PRESS RELEASE
1 February 2006
Aircraft Leasing
Company AerCap Completes Joint Venture with LoadAir of
Kuwait for 70 New A320 Family Aircraft
Firm Order Signed with Airbus
AerCap, one of the world’s largest aircraft leasing, trading and asset management
companies, has established a joint venture with LoadAir,
a start-up aviation venture based in Kuwait, for the acquisition,
management and marketing of its order of 70 new Airbus A320 family aircraft. The joint venture - named
‘AerVenture’ and based in Ireland - placed a firm order for the aircraft with Airbus in December 2005. AerCap
had signed the letter of intent for the order during the Dubai Airshow in
November 2005.
AerCap will provide the complete
asset management services for the 70-aircraft-portfolio including marketing,
lease, technical, cash and administrative services.
AerCap and LoadAir both hold a 50%
stake in AerVenture. Klaus Heinemann, CEO of AerCap said: ”Through this transaction,
AerCap has secured additional equity to support its portfolio expansion. The
substantial order of new aircraft from Airbus has further strengthened AerCap’s position as a
strong and fast-growing provider of the most modern single-aisle aircraft.” Sheikh Khalifa Al Sabah, Chairman of LoadAir stated that “We
are very pleased to announce LoadAir’s acquisition of a stake in AerVenture,
which brings us immediately into the ranks of the world’s larger aircraft leasing ventures. We are delighted
to partner with Aercap and particularly on the Airbus A320 family, for which
demand remains very strong.”
Seabury Group LCC arranged the joint
venture and acted as financial advisor to AerCap in connection with the
transaction. Spectrum Capital London Limited advised the management and Board
of LoadAir.
AerCap
AerCap, formerly known as debis AirFinance, provides aircraft leasing and related products to
airlines and asset management services to third parties such as investors and
banks. AerCap acts as servicer and/or administrative agent for several large aircraft securitisations. The Company is also
actively involved in trading aircraft. AerCap currently has a total owned
and managed fleet of 230 modern aircraft leased to 85 airlines in 45
countries. Headquartered at Amsterdam's Schiphol Airport, AerCap has offices in Shannon, Ireland and Fort Lauderdale, Florida/United States. The Company is owned by affiliates of Cerberus Capital Management, L.P.
LoadAir
‘LoadAir’ is the trading
name adopted by International Cargo Airlines Company of Kuwait, which was floated in
June 2005 in a heavily over-subscribed public IPO. It was promoted by prominent local sponsors,
including members of the Kuwaiti ruling family and leading businessmen from
companies such as the Al Fawares and Khorafi Groups and Dar Investment. LoadAir’s
participation in AerVenture as lead investor on behalf of a number of local
companies represents its first major transaction, although the company aims to
be active in several other areas of the aviation industry ranging from cargo
operations to freight handling facilities.
For further information:
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AerCap
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LoadAir
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Frauke Oberdieck
Vice President Corporate Communications
AerCap
Phone: +31 20 655 9616
Fax: +31 20 655 9100
Email: foberdieck@aercap.com
www.aercap.com
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Captain Husam Alshamlan,
EVP Production / Board Member
Phone: + 965 461 3170
Fax: +
965 461 3180
Email: husam.alshamlan@gmail.com
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Seabury Group
Karen C. Cook
Director of Communications
Seabury Group
Phone: +1 212 475 8132
Fax: +1 212 284 1144
Email: kcook@seaburygroup.com
www.seaburygroup.com
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Spectrum
Capital:
John Sharman, Executive Director
Phone +44 207 9290971
Fax: +44 207 929 3103
Email: jsharman@spectrumcapital.co.uk
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