Thu, Oct 10, 2019
Adds Two ATR 72-600s On Lease To Malindo Air
Chorus Aviation Capital ('CAC') has acquired two ATR72-600 aircraft (MSNs 1147, 1154) on lease to Malindo Air, a Malaysian operator forming part of the Lion Air Group. Earlier this year, CAC also delivered two new ATR 72-600 aircraft (MSNs 1577 and 1579) for lease to Malindo Air, bringing the total number of aircraft leased by CAC to the Lion Air Group to five. With these acquisitions, Chorus Aviation Capital has announced 581 commitments to date for its regional aircraft leasing business.
"We are delighted to expand our relationship with Malindo Air and the Lion Air Group in the fast-growing and increasingly significant Southeast Asian market," said Steve Ridolfi, president, Chorus Aviation Capital. "So far this year, we've secured lease commitments for 24 aircraft and continue to evaluate several additional opportunities. To date, we've grown the value of our leasing portfolio to approximately $1.1 billion with $815.0 million in future contract lease revenue."
"This solid growth trajectory has led to a very strong portfolio of brand name regional airlines with aircraft type and geographic diversity. Since the launch of the business, we have grown the regional aircraft leasing segment by an average of approximately 20 aircraft per year. In the near term, we have the capacity to continue with a similar rate of growth through a combination of additional debt and internally generated cash flows to fund the equity portion of the aircraft acquisitions," commented Joe Randell, President and Chief Executive Officer, Chorus.
Upon the completion of this transaction, and four pending aircraft deliveries to other customers, CAC's portfolio will include 46 turboprops and 12 regional jets. When the aircraft earning leasing revenue under the Capacity Purchase Agreement are added to the aircraft in CAC's portfolio, Chorus' total leased portfolio grows to 124 aircraft valued at approximately $2.0 billion.
(Source: Chorus Aviation news release. Image from file)
More News
Inversion to Launch Reentry Vehicle Demonstrator Aboard SpaceX Falcon 9 This fall, the aerospace startup Inversion is set to launch its Ray reentry demonstrator capsule aboard Spac>[...]
"We are excited to accelerate the adoption of electric aviation technology and further our journey towards a sustainable future. The agreement with magniX underscores our commitmen>[...]
"The journey to this achievement started nearly a decade ago when a freshly commissioned Gentry, driven by a fascination with new technologies and a desire to contribute significan>[...]
Aero Linx: OX5 Aviation Pioneers Each year a national reunion of OX5 Aviation Pioneers is hosted by one of the Wings in the organization. The reunions attract much attention as man>[...]
"Our driven and innovative team of military and civilian Airmen delivers combat power daily, ensuring our nation is ready today and tomorrow." Source: General Duke Richardson, AFMC>[...]
SpaceX to Launch Inversion RAY Reentry Vehicle in Fall
See All