Funds managed by affiliates of Apollo Global Management and aircraft lessor Merx Aviation, have completed a sale and leaseback transaction with Air France, part of the Air France-KLM Group. The transaction comprises two Boeing 777F aircraft. The aircraft, manufactured in 2009, were acquired by an aviation platform established by Apollo, which invests in a diverse set of aircraft types, vintages and jurisdictions and is serviced by Merx.
Gary Rothschild, CEO of Merx and Head of Aviation Finance at Apollo, said: “We are pleased to have closed this transaction with Air France and to add two more of the highly capable 777F aircraft type to our portfolio. The 777F is a premier long-haul freighter and an integral part of the global cargo fleet. In the current environment of strong demand for international air freight, the 777F’s capacity and range allow operators to transport large amounts of cargo quickly and efficiently over long distances while minimizing fuel stops and associated costs. This transaction continues to show how the Apollo platform and Merx together act as a flexible capital solutions provider, creating accretive transactions for both our investors and counterparties. We look forward to continuing our relationship with Air France and other airlines to provide greater financial flexibility.”