MEDIA RELEASE PR39106
Jackson Square Aviation Announces A319 Sale/Leaseback With Avianca and Execution of
Two Debt Facilities With NordLB
SAN FRANCISCO, Apr. 13 /PRNewswire-AsiaNet/ --
Jackson Square Aviation, LLC is pleased to announce the delivery of one Airbus
A319-115 to Aerovias del Continente Americano S.A. ("Avianca"), Colombia's leading
airline. This transaction represents a continuation of Jackson Square's long
relationship with Avianca and the second sale/leaseback transaction of its new fleet,
which is being built in partnership with Oaktree Capital. Norddeutsche Landesbank
Girozentrale ("NordLB") provided Jackson Square with long-term debt financing on this
aircraft and has also provided financing on an A320 which Jackson Square purchased at
delivery and leased to Avianca in February 2010.
"This is an exciting time for Jackson Square, as we have recently
launched our new brand and have added another excellent transaction to our
growing fleet," said Scott Weiss, Jackson Square's COO and EVP of Capital
Markets. "Avianca has been a great customer of ours over the years and we're
thrilled to be able to conduct more business with one of Latin America's
strongest airlines. And we're excited to have executed our first debt
financing, as NordLB is a great partner for us as we build out our portfolio
of next-generation aircraft. We have over $1 billion in committed aircraft
purchases already, and we're working hard to provide as much capital as
possible to our worldwide customer base."
Fabio Villegas, Avianca's Chief Executive Officer, said, "Avianca
appreciates Jackson Square Aviation's support for our fleet renewal plan,
which will help us to reduce fuel costs, improve overall fleet reliability,
and achieve higher passenger comfort levels. With the current volatility of
oil prices, fuel-efficient aircraft are a key competitive advantage." Avianca
provides domestic and international passenger and cargo air service to and
within Colombia, where the topography and distances between cities make air
transportation vital.
Oliver Gruenke, NordLB's Deputy Head of Global Aircraft Finance,
commented that NordLB is delighted to add Jackson Square and Avianca to its
client list. "Our bank has been among the most active aviation lenders in
this environment, and business with companies like these fit our growth
agenda perfectly. It is our full intention to finance Jackson Square on many
future transactions as well, as they lease to the world's major airlines."
About Jackson Square Aviation, LLC: Jackson Square is a full-service
aircraft leasing company based in San Francisco with offices in Seattle,
Miami, and Buenos Aires, with European and Asian offices opening in 2010. The
management team, which had previously worked together at Pegasus Aviation and
Sky Holding, has over 100 years of combined industry experience. The team has
collectively acquired over $10 billion of aircraft, has purchased and/or
remarketed over 400 aircraft, and has developed relationships with over 30
commercial lenders and investment banks across Europe, Asia and North
America. Jackson Square is equity funded with a $500 million commitment from
its management team and Oaktree Capital Management, L.P., a premier global
alternative and non-traditional investment manager with over US$70 billion in
assets under management.
About Avianca: Avianca was the first airline founded in the Americas and
the second one in the world. Along with Ocean Air in Brazil and Vip S.A. in
Ecuador, it is part of the Synergy Aerospace Group. With more than six
thousand direct collaborators and a fleet of 58 short, medium and long range
aircraft, Avianca currently operates directly to 21 destinations in Colombia
and 22 points in the Americas and Europe. From its hub in Bogota, the company
offers an average of 250 flights per day connecting its domestic and
international destinations. Passengers have more than 6,000 options for
connections between destinations operated both directly and through code
share agreements with other internationally renowned companies. In addition
to its passenger air transport services, Avianca provides tourism, mail,
cargo, and courier transport services, as well as aeronautical assistance
services, through its Business Units: Avianca Tours, Deprisa and Avianca
Services. Avianca also has code-share agreements in place with Iberia and
Mexicana de Aviacion. At the end of 2009, Avianca's shareholders announced
the signing of an agreement with the TACA Group, geared towards a strategic
union of their business, with the purpose of strengthening each airline's
position and capacity in the Americas. For additional information, please
SOURCE: Jackson Square Aviation, LLC
CONTACT: Jackson Square Aviation, LLC,
+1-415-655-5000,
info@jacksonsquareaviation.com
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