Apollo Aviation Group has contracted to purchase 38 aircraft and 11 engines, amounting to USD570m, for its second aviation fund, Sciens Aviation Special Opportunities Investment Fund II (SASOF II).
The purchases approved by SASOF II Investment Committee this year include, but are not limited to, 12 Airbus A320ceo family aircraft and 13 Boeing 737 Next Generation models. Specifically during the third quarter, Apollo Aviation committed to purchase 13 aircraft for approximately USD200m.
“Apollo Aviation is a mid-life aircraft specialist. All but two of the aircraft that we have acquired for SASOF II are in-production models,” says William Hoffman, Apollo Aviation’s chairman. “We continue to see a robust market for mid-life flight equipment. We have a solid pipeline of deals, many involving in-production aircraft on lease to major airlines in North America, Europe, and Asia.”
SASOF II, which began trading in the first quarter of last year, will continue investing through January 2015. The USD595m fund targets mid-life in production aircraft for lease or immediate disassembly.