Castlelake Completes Sale Leaseback and Financing with Avianca
MINNEAPOLIS, November 5, 2021 / PRNewswire / – Castlelake, LP (âCastlelakeâ), a global alternative investment firm with 16 years of experience investing, financing and managing aviation assets, today announced the completion of the sale and leaseback of six A330-200 freight aircraft to Avianca SA (“Avianca”) with a 10-year lease.
âWe are excited to build on Castlelake’s existing relationship with Avianca to provide tailored capital solutions that help meet the growing demand for e-commerce in Latin America,” noted Joe mcconnell, Partner and Portfolio Manager at Castlelake, LP âAs the global airlines return to focus on growth, we look forward to leveraging our platform and our extensive investment and operating experience. of aeronautical assets to support their objectives. ”
This sale-leaseback and finance is the latest of several transactions between the Castlelake and Avianca entities and its subsidiaries this year, including a finance facility provided to Avianca and another provided to LifeMiles Ltd., the airline’s leading loyalty program. serving airlines and airline passengers in Latin America.
âWe appreciate Castlelake’s support throughout our restructuring process. This transaction is a testament to the market’s confidence in our business model and our future success. We look forward to continuing our relationship as we prepare to capitalize on the global airline’s recovery. industry, âsaid Francisco Raddatz Vice President of Fleet at Avianca.
Castlelake demonstrated substantial innovations during the pandemic, launching an aviation loan business in 2020, then reopening the aircraft ABS market with Castlelake Aircraft Structured Trust 2021-1 in January 2021. In September 2021, Castlelake formed Castlelake Aviation Limited, a commercial aircraft leasing company focused on financing young, modern and fuel efficient aircraft. Castlelake’s differentiated aerospace expertise and its dedicated team of more than 60 professionals enable the company to attempt to deliver innovative and tailor-made capital solutions to participants in the aviation industry, including airline loyalty programs, airlines and other aircraft buyers.
Certain elements of this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to future transactions. These statements are based on the current expectations and beliefs of management and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. Many of these risks, but not all, are described in the documents Castlelake makes available to its investors, which we encourage you to review. Castlelake cannot guarantee that their expectations will be met. There are significant factors that could cause actual results, level of activity, performance or achievements to differ from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. In light of these risks, uncertainties and assumptions, the performance or future events described in the forward-looking statements in this press release may not occur. Therefore, you should not rely on forward-looking statements as a prediction of actual results and we assume no responsibility for the accuracy or completeness of such forward-looking statements. These forward-looking statements speak only as of the date of this press release. Castlelake expressly disclaims any obligation to publicly disclose any update or revision to any forward-looking statement contained herein to reflect any change in Castlelake’s expectations in this regard or any change in the events, conditions or circumstances about which a statement is made. based. In addition, past performance is not an indication or guarantee of future results and as such there can be no guarantee that historical trends will continue.
About Castlelake, LP
Castlelake, LP is a global alternative investment manager focused on investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $ 20 billion assets on behalf of its investors. The Castlelake team includes more than 200 experienced professionals, including 89 investment professionals, located in six offices in North America, Europe and Asia. For more information, please visit www.castlelake.com.
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SOURCE Lake of the Castle