Global private investment major KKR has agreed to increase its ownership stake in commercial aviation leasing firm Altavair and its sister company AV AirFinance, deepening a strategic partnership that has been in place since 2018.
The investment, which will be funded from KKR’s balance sheet, strengthens the global investment firm’s exposure to the aviation sector as part of its broader asset-based finance strategy. Financial terms of the transaction were not disclosed.
Since launching the partnership seven years ago, KKR-managed funds have committed more than $5bn to aircraft leasing and lending transactions through Altavair, which invests across the global leased aircraft market.
KKR said the additional investment reflects its confidence in the long-term resilience of commercial aviation assets, underpinned by sustained demand for global air travel and contractual protections embedded in leasing structures.
Altavair focuses on the acquisition and leasing of new and used commercial aircraft to passenger and cargo airlines worldwide. Founded in 2003, the firm has completed more than $14.5bn of aircraft lease transactions involving over 300 Boeing and Airbus aircraft across 50 countries.
Alongside the ownership increase, Altavair announced senior management changes to support its next phase of growth. Chief commercial officer Matthew Hoesley will assume the expanded role of president and chief commercial officer, while Andrew Carpenter, currently head of tax and accounting, will become chief financial officer.
