Aquila Air Capital (“Aquila”), a leading specialty aviation finance platform, announced today that the company signed operating lease agreements for a fleet of three Boeing 757-200PCFs with Kenya-based Astral Airlines (Astral”).
The aircraft are expected to be delivered to Astral starting in November 2021, upon completion of their scheduled maintenance. Astral will become the largest B757F operator in the Middle East & Africa.
“We are delighted to bring on Astral Airlines as a customer. At Aquila, we are uniquely focused on providing cost-effective and flexible solutions for our customers to manage through these unprecedented times. We look forward to this being the beginning to a long-term relationship with Astral to help facilitate their future growth,” said Al Wood, Chief Executive Officer of Aquila Air Capital.
“We are excited to enter into a lease agreement for three B757-200F aircraft from Aquila Air Capital and SkyExec Capital Jets. The aircraft will take over the Nairobi – Johannesburg and Nairobi – Dubai scheduled service with increased frequency for our clients in addition to new scheduled routes to and within Africa and Middle East in 2022. It will also offer point-to-point solutions for COVID-19 vaccines (from India / UAE to Africa) in addition to E-commerce shipments to new markets,” commented Astral’s Chief Executive Officer, Sanjeev Gadhia.
“The B757-200F will complement the Astral fleet with new and efficient options to and within its existing scheduled and charter freighter network, which comprises of over 50 destinations in Africa, Middle East and Southeast Asia,” added Astral’s Commercial Director in UAE, Satvir Kalsi.
Founded in 2021, Aquila Air Capital (“Aquila”) is a specialty finance platform focused on providing aviation asset financing, as well as purchasing and leasing aircraft and engines. Led by a management team with decades of experience in the aerospace and aviation industries, Aquila is a trusted partner to all players in the value chain, from buyers and sellers of assets to operators in need of creative and timely solutions for their critical business needs. www.AquilaAirCapital.com
Platform Targets to Become Trusted Partner for Passenger and Cargo Operators and MRO Community
Aquila Air Capital (“Aquila”), a leading specialty aviation finance platform, announced today its launch following the signing of an agreement between aviation industry executive Al Wood and private equity firms Warburg Pincus and Kepler Hill Capital to establish the company.
The platform will have a broad mandate to purchase, finance, and lease, aircraft, engines, and other aviation equipment, with a vision to serve as a trusted partner to all players in the value chain, from buyers and sellers of assets to operators in need of creative and timely solutions for their critical business needs.
Eric Friedman, Managing Director of Warburg Pincus, stated: “There is a significant market opportunity to build a leading specialty finance franchise in commercial aerospace. By pairing our expertise in special situations and specialty finance with our deep history in aerospace, Aquila Air Capital is well positioned to build a scaled and diversified platform.”
A long-time industry executive, Al Wood, who previously served as Head of Mergers and Acquisitions at Boeing Global Services and as Chief Commercial Officer at AeroTurbine, formerly part of AerCap and International Lease Finance Corporation, will lead the platform as Chief Executive Officer.
Wood joined Warburg Pincus as an executive-in-residence to identify and evaluate investment opportunities related to the broader aerospace and defense industry and to help build the platform.
“The industry is facing an extended recovery outlook and high levels of cash burn, leaving it with liquidity and capital constraints. Our platform has the potential to become an important partner for passenger and cargo operators and the MRO community supporting their aircraft,” concluded Al Wood, Chief Executive Officer of Aquila Air Capital.
Founded in 2021, Aquila Air Capital (“Aquila”) is a specialty finance platform focused on providing aviation asset financing, as well as purchasing and leasing aircraft and engines. Led by a management team with decades of experience in the aerospace and aviation industries, Aquila is a trusted partner to all players in the value chain, from buyers and sellers of assets to operators in need of creative and timely solutions for their critical business needs. www.AquilaAirCapital.com