Business Irish

Sunday 19 May 2019

Stellwagen completes first Korean transaction

Photo: PA
Photo: PA
Ellie Donnelly

Ellie Donnelly

Dublin-based aircraft financing company Stellwagen has completed its first transaction for the Korean market in conjunction with Meritz Securities Korea.

The transaction involves the acquisition of one Boeing 777 - 300ER aircraft, on lease to Qatar Airways.

Seraph Aviation, the aviation asset management company of Stellwagen and headquartered in Dublin, is acting as the servicer for the aircraft.

"We are very pleased to have reached this agreement having recently opened in the Korean market," David Butler, CEO of Stellwagen, said.

"The transaction is an indication of the great opportunity that exists in the region and Stellwagen Korea looks forward to an announcing further such initiatives in due course."

Stellwagen opened a branch office in Seoul earlier this year to further service the Korean market.

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