(Information sent by the signatory company)
The announcement follows a change in AIP’s minority stake along with the renewal of an order book for 30 Boeing 737 MAX aircraft
DUBLIN and STAMFORD, Conn., April 10, 2024 /PRNewswire/ — AIP Capital (“AIP”), a global aviation investment and asset management firm, today announced the formation of Phoenix Aviation Capital (“Phoenix”) , a full-service aircraft lessor focused on financing modern, in-demand aircraft around the world.
Phoenix is ??100% owned by a US-based insurance and financial services holding company with approximately $11 billion in assets under management. As part of the transaction, Phoenix’s owner also acquired a 49% stake in AIP and AIP’s management team will continue to own a 51% majority. No other shareholders participate in AIP.
Phoenix will be managed exclusively by AIP and will benefit from AIP’s extensive experience in aviation and leadership, including Mathew Adamo, Managing Partner of AIP, who will serve on Phoenix’s board of directors and be directly involved in the guidance, execution and oversight of its growth strategy. AIP is currently comprised of 20 professionals in Dublin, Ireland and Stamford, Connecticut, and plans to employ 25 professionals by mid-2024, further supporting Phoenix’s operational and marketing requirements.
“We are excited to announce the creation of Phoenix Aviation Capital that our team has been working on for the past few months,” said Mathew Adamo, Managing Partner at AIP. “The creation of Phoenix represents a key milestone in the execution of our strategy to meet the fleet and financing needs of our global airline customers across all market cycles.”
Phoenix’s initial portfolio will consist of new generation aircraft leased on a long-term basis to a diversified base of airline customers. Phoenix has a definitive agreement to acquire the rights, interests and obligations of a portfolio of 30 737-8 aircraft from 777 Partners. Terms of the transaction were not disclosed. Phoenix will also secure additional long-term growth through sale and lease transactions with global airlines along with acquisitions of other aircraft leasing companies.
About Phoenix Aviation Capital
Phoenix Aviation Capital is a full-service aircraft lessor focused on financing modern, in-demand aircraft and is dedicated to meeting the financing needs of its aviation customers around the world. Phoenix Aviation Capital is headquartered in Dublin and managed by AIP Capital, a global aviation investment and asset management firm.
For more information about Phoenix Aviation Capital or to speak with company executives, please contact investors.relations@phoenixaviation….
About AIP Capital
AIP Capital is a full-service aviation asset manager focused on opportunities in the aviation sector. AIP Capital believes that its unique capital structure, relationships and hands-on approach enable the company to provide creative and tailored solutions to airlines and other counterparties across all market cycles. With offices in Stamford and Dublin, AIP is supported by a full platform of finance and accounting, technical, legal, risk management and underwriting professionals.
For more information about AIP Capital or to speak with company executives, contact investors.relations@aipcapital.com.
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