LCI RETURNS TO FIXED WING LEASING MARKET WITH AIRBUS A330 ACQUISITION
– Purchased under joint venture between LCI and Marathon Asset Management –
LCI, a leading aviation leasing company, has re-entered the fixed wing market with the acquisition of an Airbus A330-300 commercial aircraft.
This latest investment programme builds upon LCI’s 17-year track record in the fixed wing market during which it has carried out more than 120 passenger and freighter aircraft transactions worth over US$7 billion.
LCI’s long-held fixed wing strategy of undertaking aircraft investments timed with market cycles includes its US$1 billion fleet divestment in 2007, and its US$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 full-service leasing, management and investment platform.
The 2013-build Airbus aircraft is powered by Rolls Royce Trent 700 engines. It was acquired by a joint venture between LCI and Marathon Asset Management.
Michael Platt, Vice Chairman of LCI, says: “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. 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 Marathon Asset Management on this acquisition. Our combined aviation and investment expertise will make this a strong and successful partnership.”
Joe Thorstenson, Managing Director of Aircraft Leasing at Marathon Asset Management, says: “As the airline industry continues to build back from the pandemic, we believe the range of compelling aircraft investment opportunities is growing quickly. We are delighted to be partnering with such an experienced lessor as LCI.”
The lessor has consistently grown in scale and value as it has diversified over time. LCI’s highly experienced management team has built strong relationships with manufacturers, customers and leading financial institutions, and has undertaken in excess of US$8 billion of transactions in the fixed-wing and helicopter markets since its inception in 2004.
Notes to Editors
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Since its inception in 2004, LCI has undertaken in excess of US$8 billion of transactions in the fixed-wing and helicopter markets. LCI is owned by Libra Group (www.libra.com), an international business group with 30 subsidiaries active in 35 countries across six continents. Libra Group’s subsidiaries are focused on six core sectors: aviation, energy, hospitality, real estate, shipping, and diversified investments. www.lciaviation.com
About Marathon Asset Management LP
Marathon Asset Management LP is a global credit manager with approximately $23 billion in assets under management. The firm was formed in 1998 by Chairman & CEO Bruce Richards and CIO Louis Hanover. With offices in New York City, London, and Tokyo the firm has more than 160 employees worldwide. Marathon deploys capital in the public and private credit markets, corporate loans and bonds, emerging market debt and structured credit markets, including real estate and asset-based lending. Marathon seeks to provide asset-based capital solutions to partners across the private credit space in the form of senior secured debt, junior lien debt, and preferred and convertible equity. For additional information, please visit www.marathonfund.com
For more information regarding LCI, please contact:
Charlie Hampton / Rosie Causer
Pembroke and Rye
Tel: +44 (0)7884 187297