Business World

Wednesday 29 January 2020

Airborne handed $31.5m lift from Interglobe

Airborne Capital CEO Ramki Sundaram
Airborne Capital CEO Ramki Sundaram
John Mulligan

John Mulligan

Dublin-based aircraft leasing and asset management company Airborne Capital has received a $31.5m (€28.4m) equity injection from shareholder Interglobe Aviation.

Interglobe, which owns India's largest carrier, IndiGo, acquired a 42.5pc stake in Airborne earlier this year from Kerry-based financial services firm Fexco.

The remainder of Airborne is owned by its management team.

Airborne was founded in 2017. Its CEO is Ramki Sundaram, previously head of global aviation at Natixis Investment Managers, one of the world's largest investment firms.

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When it was founded, Airborne said it intended to have at least $5bn of assets under management by 2022.

Last year, the company entered into a partnership with Luxembourg-based L1 Treasury to establish Altitude One Aviation.

The new company, with an initial $250m of capital from its owners, was set up to invest in narrow-body and wide-body jets.

Last month, Airborne Capital also launched its first-ever securitisation of commercial aircraft leases.

The $637m deal saw the leasing firm market three classes of notes. Proceeds from the sale of the notes were used to buy 17 on-lease aircraft.

Irish Independent

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