LCI Returns to Fixed Wing Leasing Market with Airbus A330 Acquisition – Monitor Daily
LCI, an aviation leasing company, re-entered the fixed wing market with the acquisition of an Airbus A330-300 commercial aircraft.
This latest investment program builds upon LCI’s 17-year track record in the fixed wing market, during which it carried out more than 120 passenger and freighter aircraft transactions worth more than $7 billion.
LCI’s fixed wing strategy of undertaking aircraft investments timed with market cycles includes its $1 billion fleet divestment in 2007 and its $4.8 billion fleet investment and divestment cycles running from 2008 to 2020.
Deal origination, technical management and ongoing lease management will all be handled in-house via LCI’s leasing, management and investment platform.
The 2013-built Airbus aircraft is powered by Rolls Royce Trent 700 engines. It was acquired by a joint venture between LCI and Marathon Asset Management.
“LCI prides itself on being a prime mover in aviation leasing as demonstrated by strategic investments in widebody aircraft, freighters and helicopters, and this acquisition marks the latest chapter in that strategy,” Michael Platt, vice chairman of LCI, said. “The A330-300 is a proven and popular aircraft with airlines across the globe and a natural choice as the long-haul market recovers.
“We are delighted to be working with the Marathon Asset Management on this acquisition. Our combined aviation and investment expertise will make this a strong and successful partnership.”
“As the airline industry continues to build back from the pandemic, we believe the range of compelling aircraft investment opportunities is growing quickly,” Joe Thorstenson, managing director of aircraft leasing at Marathon Asset Management, said. “We are delighted to be partnering with such an experienced lessor as LCI.”
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