STAMFORD, Conn., July 07, 2021–(Organization WIRE)–VAH (the “Business”, formerly acknowledged as Voyager Aviation), a worldwide aviation expense company, now provided an update on critical business enterprise activity through the first 50 percent of the calendar year.
As earlier disclosed, VAH executed a prosperous trade offer in Might, transferring bulk possession to a marquee investor group and recapitalizing the organization. The transaction strengthened the company’s economical position for the lengthy phrase. Coincident with the trade, VAH reconstituted its Board of Managers and introduced a redesigned logo and brand identity.
In addition, we are pleased to announce that Andrew Jones re-joined the Business throughout H1 2021. He is now serving as Main Professional Officer and is based in Dublin, Eire. Mr. Jones has accrued a wide aviation track record that will lend by itself nicely to good results in his new position. His background incorporates working for an airline, a company, and diverse lessors because setting up his job in the sector in 2004. His past working experience includes roles with Minsheng Monetary Leasing, Intrepid Aviation (VAH’s predecessor organization), Airbus, and Iberia. In his role as Chief Industrial Officer, Jones oversees all of the Company’s business operations as VAH executes its system to become a major provider of plane and cash solutions to the aviation business.
“This is a new period – for VAH and for the sector – and we are energized by how we have positioned ourselves as we glance to the potential. With the monetary security established by our the latest exchange, we are on agency footing and can concentrate on our main small business and options for advancement,” explained VAH’s President & Main Govt Officer, Mike Lungariello. “We are delighted to have welcomed Andrew back to our staff at a pivotal time in VAH’s progress trajectory – he will prolong relationships with our valued consumers and create new ones.”
Important transactions and around-time period strategic targets accomplished in the course of the initial 50 % of 2021 involve:
In January, the Organization introduced that it experienced entered into an settlement with AirBridgeCargo Airways (“AirBridgeCargo”) and VolgaDnepr Group (“Volga-Dnepr”) to convert the running lease on a person (1) of the Company’s 747-8F aircraft into a finance lease. The transaction was the next conversion of a 747-8F running lease with AirBridgeCargo (portion of Volga-Dnepr Team) to a finance lease. The transaction provided VAH with important additional liquidity, which was employed for basic company functions. The plane continues to be in the VAH fleet and the Business continues to receive periodic funds movement to equity.
In June, VAH agreed to a 6-year extension with Air France on the lease for just one 777-300ER which was thanks to expire in April 2022. Air France is a strategic shopper for the Enterprise and this extension enables VAH to deepen its marriage with the airline. It also demonstrates VAH’s means to proactively deal with lease maturities, even in this complicated atmosphere. VAH now has no lease maturities prior to December 2022.
The Business is also focused on the impending order and leaseback of five (5) A220-300 aircraft with Breeze Airways (“Breeze”). These aircraft will be shipped to Breeze from Q1 2022 to Q1 2023. This is Voyager’s 1st transaction with Breeze, as properly as VAH’s to start with addition of future-technology A220-300 narrowbody aircraft to its fleet.
VAH is a privately held aviation expense organization and professional plane leasing business centered in Eire. Its property of approximately $2 billion consist mostly of youthful and contemporary plane.
The Corporation has a world client base of distinguished passenger and cargo airlines that incorporate Air France, AirBridgeCargo, Cebu Pacific, Sichuan Airways, Turkish Airlines, and Alitalia.
See resource version on businesswire.com: https://www.businesswire.com/news/property/20210707005113/en/
Buyers: Christian Ginez firstname.lastname@example.org
Media: Susan Donofrio / Rachel Chesley VAH@fticonsulting.com