This announcement represents a strategic milestone for Phoenix Aviation Capital as it continues to grow its portfolio of next-generation assets.
DUBLIN And STAMFORD, Connecticut, July 12, 2024 /PRNewswire/ — Phoenix Aviation Capital (“Phoenix Aviation Capital”)Phoenix“), a full-service aircraft lessor, and AIP Capital (“AIP”), a global aviation asset management and investment firm, today announced an agreement to acquire a portfolio of ten LEAP-1B engines from CFM International*.
The agreement demonstrates the strong relationship between the parties and CFM and will support the lessor’s growth and mission to meet the fleet and financing needs of its global airline customers. The state-of-the-art LEAP-1B engines are expected to be delivered between the third and fourth quarters of 2024.
Phoenix is managed exclusively by AIP and benefits from AIP’s extensive aviation and leadership experience. Mathieu AdamoManaging Partner at AIP, which sits on the Phoenix The Board of Directors commented: “This order represents an important milestone in the life of AIP Capital and Phoenix “We are excited to further develop our relationship with CFM and recognize the reliability, fuel efficiency and performance of the LEAP engine family.”
“We are proud to deepen our relationship with Phoenix Aviation Capital,” said Gaël Méheust, Chairman and CEO of CFM International. “This agreement reinforces our shared mission to reduce the environmental impact of aviation and lower airline operational costs through cutting-edge technology and exceptional service and support.”
The agreement strengthens Phoenix portfolio of new generation aircraft leased long-term to a diversified customer base of airlines around the world. Phoenix has an order book of 30 737 MAX 8 aircraft with Boeing.
*CFM International is a 50/50 joint company between GE Aerospace and Safran Aircraft Engines.
About Phoenix Aviation Capital
Phoenix Aviation Capital is a full-service aircraft lessor focused on financing modern, high-demand aircraft and dedicated to meeting the financing needs of its airline clients worldwide. Phoenix Aviation Capital is headquartered in Dublin and is managed by AIP Capital, a global aviation asset management and investment firm.
For more information about Phoenix Aviation Capital or to speak with company executives, please contact investor.relations@phoenixaviationcap.com.
About AIP Capital
AIP Capital is a full-service aviation asset manager focused on opportunities in the aviation sector. AIP Capital believes its unique capital structure, relationships and hands-on approach enable the firm to provide creative and tailored solutions to airlines and other counterparties throughout market cycles. With offices in Stamford And DublinAIP is supported by a comprehensive platform of professionals in finance and accounting, technology, law, risk management and underwriting.
For more information about AIP Capital or to speak with the company’s principals, please contact investor.relations@aipcapital.com.
SOURCE AIP Capital
