Acumen Aviation Leasing has signed a letter of intent for the leasing of aircraft to be operated by India-based airline Spirit Air. The proposed agreement encompasses the leasing of multiple aircraft and simulators to Spirit Air's newly launched flight training operations.
"Venturing into the aircraft leasing business presents a remarkable opportunity to leverage our extensive experience, spanning over 14 years, in asset management services," said Acumen CEO and chairman Alok Anand.
"Upon securing the necessary approvals, we aspire to connect smaller locations to mainstream hubs," said Spirit Air founder and partner Subodh K Verma. He added: "our collaboration with Acumen extends beyond the current transaction, evolving into a robust partnership rooted in shared values and a commitment to achieving our mutual goals."
The successful execution of the operation in contingent upon Spirit Air obtaining the necessary regulatory approvals, with the initial closing anticipated within the current quarter of 2024, followed by the measured growth and introduction of additional aircraft over time.