BOCA RATON, Fla., Nov. 16, 2020 /PRNewswire/ -- AE Industrial
Partners, LP ("AEI"), a private equity firm specializing in
Aerospace, Defense & Government Services, Power Generation, and
Specialty Industrial markets, announced today the completion of a
sale and leaseback transaction with Allegiant Air
("Allegiant") involving four Airbus A319 aircraft. The transaction
is the firm's first aircraft leasing transaction made from its AE
Industrial Partners Aerospace Opportunities Fund, an aircraft and
engine leasing investment platform launched early this year. Terms
of the transaction were not disclosed.
"We are excited to embark on this partnership with Allegiant and
to complete the first aircraft leasing transaction for our AE
Industrial Partners Aerospace Opportunities Fund," said
Mark Satran, Senior Managing
Director at AEI. "We believe that Allegiant, with its low-cost,
domestic leisure business model, is well-positioned for a strong
return in 2021, as travelers look to reunite with family and
friends. The workhorse nature of the A320 family aircraft is a
great fit for our investors, and we're impressed by what
Allegiant's management has rapidly accomplished during these
turbulent times for the aviation industry."
"The investment from AEI will provide Allegiant with greater
flexibility as we address an unprecedented time in the industry. We
were happy with the results of this transaction and look forward to
an ongoing collaboration," said Robert
Neal, Treasurer and Vice President of Fleet & Corporate
Finance at Allegiant.
About Allegiant Travel Company
Las Vegas-based Allegiant (NASDAQ: ALGT) is an
integrated travel company with an airline at its heart, focused on
connecting customers with premier leisure experiences - from
vacations to hometown family entertainment. Since
1999, Allegiant Air has linked travelers in
small-to-medium cities to world-class vacation
destinations with all-nonstop flights and industry-low average
fares. Today, Allegiant's all-Airbus fleet serves communities
across the nation, with base airfares less than half the cost of
the average domestic roundtrip ticket. For more information, visit
us at Allegiant.com. Media information, including photos, is
available at http://gofly.us/iiFa303wrtF
About AE Industrial Partners
AE Industrial Partners is
a private equity firm specializing in Aerospace, Defense &
Government Services, Power Generation, and Specialty Industrial
markets. AE Industrial Partners invests in market-leading companies
that can benefit from our deep industry knowledge, operating
experience, and relationships throughout our target markets. AE
Industrial Partners is a signatory to the United Nations Principles
for Responsible Investment. Learn more at www.aeroequity.com.
CONTACT:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
jhurson@lambert.com
Or
Caroline Luz
203-656-2829
cluz@lambert.com
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SOURCE AE Industrial Partners