AVIATION TECHNOLOGY

Modern Aviation Closes the Acquisition of FBO assets from Sheltair Aviation at JFK and LaGuardia Airports

Modern Aviation | February 09, 2022

ITC News
Modern Aviation announced it has closed the acquisition of the FBO assets and operations at JFK International Airport and LaGuardia Airport from Sheltair Aviation, the nation's largest privately-owned aviation network.  

"We are enormously proud of Sheltair's dedicated New York team and our corporate legacy serving these landmark airports. We have every confidence in Modern Aviation, their team of professionals, and their ability to meet the needs of this demanding market. As we anticipate a smooth and coordinated transition in the days ahead, it is important to pay tribute to the Port of Authority of New York and New Jersey. They are consummate aviation professionals and we are deeply appreciative of their efforts and guidance."

- Sheltair's President Lisa Holland

"We are very happy to close on the acquisitions today and look forward to welcoming our new teammates to Modern and our customers to our new locations at JFK and LGA. Our JFK and LaGuardia customers will find familiar faces when they taxi up to our FBOs as we have hired all of Sheltair's New York employees, for they have demonstrated excellence with every arrival and departure. We look forward to the beginning of a long and mutually beneficial relationship with the Port Authority of New York and New Jersey. We are excited to be operating at these premier New York City airports and providing world class customer service and safety to all of our customers."

- Modern Aviation's CEO, Mark Carmen


About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation's strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industry-leading safety. Modern Aviation has secured the backing of the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean.

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BUSINESS AVIATION

Castlelake Establishes Castlelake Aviation Limited

Castlelake | September 30, 2021

Castlelake, L.P., a global alternative investment firm and experienced leader in aircraft investing, leasing and servicing, today announced the creation of Castlelake Aviation Limited ("CA"), a corporate lessor of commercial aircraft that will finance a portfolio of modern, young, fuel-efficient aircraft. We are thrilled to create Castlelake Aviation Limited, which is an exciting and natural next step in the evolution of our industry leading aviation finance business. This is a powerful demonstration of our commitment to staying at the forefront of the aviation financing industry and ensuring we are well positioned to nimbly provide bespoke financing solutions to our partners. - Evan Carruthers, Managing Partner and Co-Founder of Castlelake. The formation of Castlelake Aviation Limited builds on Castlelake's history of innovation in aviation finance and follows its establishment of an aviation lending business in late 2020 and its reopening of the aircraft ABS market with Castlelake Aircraft Structured Trust 2021-1 in January 2021, the first such transaction to be completed since the beginning of the global COVID-19 pandemic. Since its inception, Castlelake has invested more than $14 billion in aviation related opportunities. With a team of over 60 aviation professionals who have experience with nearly all commercial aircraft types, the firm currently directly manages and services a global fleet of more than 350 aircraft operated by a diverse range of customers, including the world's leading airlines across more than 50 countries around the globe. CA will directly benefit from this differentiated expertise and senior Castlelake aviation leaders, including Joe McConnell and Otto Verhoeff, who will serve on CA's Board and be directly involved in the development, execution and oversight of its growth strategy. Upon its formation, CA's initial portfolio will be composed primarily of next generation, narrowbody aircraft on long-term leases to leading international airlines and CA will maintain a similarly high-quality, fuel-efficient fleet by utilizing Castlelake's robust trading and re-marketing capabilities. Additionally, CA's growth trajectory will be supported by Castlelake's extensive near-term pipeline of investing opportunities, including active negotiations for over 40 aircraft representing over $2 billion in potential investments, primarily in newer technology assets. CA's portfolio will be financed by a mix of secured and unsecured debt instruments in addition to equity capital provided by funds managed by Castlelake. About Castlelake Castlelake, L.P. is a global alternative investment manager focused on opportunistic investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $20 billion of assets on behalf of its investors. The Castlelake team comprises more than 200 experienced professionals, including 89 investment professionals, across six offices in North America, Europe and Asia.

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Collins Aerospace to acquire FlightAware

Collins Aerospace | August 31, 2021

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AVIATION TECHNOLOGY

LeaseWorks Debuts Aeris Portal with Launch Customer FTAI Aviation

LeaseWorks | October 04, 2021

LeaseWorks®, a leading provider of cloud-based solutions and support services to the aviation industry, kicking off its presence at the ISTAT EMEA conference held in Edinburgh, U.K., announced the launch customer, FTAI Aviation, a subsidiary of Fortress Transportation and Infrastructure Investors LLC (NYSE: FTAI), for its recently rolled out Aeris Portal™. The new software product that digitally transforms the ways in which lessors collaborate and exchange information with customers is being deployed to enhance FTAI Aviation’s customer interaction through a digital experience. Digitization has brought new ways for lessors to engage customers and serve their demanding information needs 24x7, User self-service experiences in the e-commerce world have set high customer expectations of being able to have the same information transparency while doing business. - Angela Balzano, LeaseWorks’ Director of Product Management. In response, lessors, like FTAI Aviation, are reinventing themselves through digital transformation, augmenting their capabilities to better serve the ever-increasing, real-time information needs of customers, while opening new opportunities to upsell, cross-sell and focus sales teams on closing deals rather than chasing the information demands. Faced with an increasingly challenging operating environment, compounded by the ongoing effects of the pandemic, FTAI Aviation is strategically targeting digital growth to gain a competitive advantage among lessors as a technology centric leasing platform. At FTAI Aviation, we recognize the importance of providing customers with access to real time data. The Aeris Portal integrates our leasing platform and The Module Store in one location for customers to access, We were looking to provide unparalleled convenience and efficiency to our customer base. We found that in the Aeris Portal. - David Moreno, Chief Operating Officer of FTAI Aviation. FTAI Aviation and LeaseWorks collaborated to implement the new portal solution, enabling the lessor’s customers to: Search for real-time asset inventory to streamline fleet planning; Submit utilization files electronically to cut down invoice turnaround times; Centralize invoice aging to bring transparency around payment delays; and View individual asset profiles, including shop visit information and MR funds allocations Core to Aeris Portal is the capability to make it easier for lessors to bring commercial, contracts, and technical teams together to deliver a unified digital experience for airline customers. The portal integrates LeaseWorks’ market-leading Asset and CRM products to deliver a self-service, data-centric tool to meet ever-increasing information needs — from furnishing data about asset availability for the marketing phase to executing aircraft returns. We are thrilled to expand our relationship with FTAI Aviation as the launch customer for Aeris Portal, Lessors have always been at the forefront in their approach to serve the time-sensitive and information needs of their customers. With Aeris Portal, they will be able to better serve customers spread across the globe, with a readily scalable, easy-to-use, and customer-friendly digital platform. - Haseem Vazhayil, President & Chief Executive Officer of LeaseWorks. About LeaseWorks LeaseWorks® provides cloud-based products and services to the aviation leasing community, with solutions for both lessors and airlines. Aeris MATCH™ helps lessors more quickly and effectively deploy their aviation assets with airlines around the globe. Aeris ASSET™ allows both lessors and airlines to manage the intricate details of aviation leases. These are the first two of a suite of products that will constitute a full-life-cycle portal for managing leased aviation assets. About Fortress Transportation and Infrastructure Investors LLC Fortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.

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