AUSTIN, Texas, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Aero Capital Solutions, Inc. (ACS), a leading mid-life aircraft leasing platform, is pleased to announce the acquisition of twenty A320 family aircraft from easyJet Airline Company Limited on a sale-and-leaseback basis. The transactions were completed in two tranches during 2020.
“Working collaboratively with our airline partners, we are able to build highly competitive and tailored solutions which support fleet development needs,” said Daniel Watson, ACS’ Chief Commercial Officer. “easyJet is one of the leading low-cost carriers in Europe, and including this recent transaction, is strategically well-positioned to emerge from the pandemic even stronger than before.”
Director of Strategy for easyJet, Shane Lord commented, “The facilitation of sale-and-leaseback of these aircraft to our key strategic partner ACS has provided fleet planning and liquidity benefits for easyJet. The team at ACS have demonstrated an ability to bring innovative and competitive solutions to minimise easyJet’s cash expenditure in the medium-term.” Lord continued, “easyJet will continue to review its liquidity position on a regular basis and will continue to assess further funding options, including those that exist in the robust sale-and-leaseback market.”
The transaction was supported by Deutsche Bank and volofin Capital Management who acted as lenders to the transactions. Vedder Price represented ACS, Norton Rose Fulbright represented easyJet and Milbank represented the lenders.
About Aero Capital Solutions, Inc.
Aero Capital Solutions, Inc. ("ACS") is a leading mid-life aircraft leasing platform that has deployed in excess of USD $2.0 billion in aircraft assets since inception in 2010. With more than 285 unique aircraft and engine transactions since 2017, including over 80 transactions in 2020, ACS has built a portfolio of over 170 assets. ACS continues to focus on opportunities that emphasize its "metal expertise" and active investment management approach through offices in Austin (USA), Dublin (Ireland), and Singapore. www.aerocapitalsolutions.com