Ashland Place Finance, the commercial aviation financing platform, has completed a new financing facility involving three 737-800s for Royal Aero and Aquila Air Capital. The aircraft are currently on operating lease to a major European carrier.
Royal Aero offers a wide range of services from aircraft and engine leasing, trading, parts supply and material management, to technical consultancy services.
Backed by Warburg Pincus, Aquila is a specialty finance platform focused on providing asset financing in partnership with industry participants as well as purchasing and leasing aircraft, engines and other aviation equipment.
"We are delighted to add Royal Aero and Aquila as new clients to Ashland Place's growing platform," said Jennifer Villa, Ashland Place's Executive Director and Group Head. "Since the launch of Ashland Place just under one year ago, we have completed financings for 11 financial sponsors and lessors, and we are proud to continue building on this momentum through partnerships with dedicated aviation firms like Royal Aero and Aquila."
Calum MacLeod, Chief Executive Officer at Royal Aero, thanked Ashland Place for the rapid closure of the facility: "As we further build out our asset portfolio, we need the ability to react quickly and take advantage of attractive opportunities with quality airline credits. Thanks to the Ashland Place team and their diligent efforts, we were able to achieve a rapid closing of this transaction through a coordinated and streamlined process."
Al Wood, Aquila's Chief Executive Officer, added: "We are excited to have partnered on this transaction with Royal Aero and Ashland Place. Our teams came together quickly and efficiently to deliver an attractive solution."
Allen & Overy served as legal counsel for Ashland Place and McGuire Woods represented Royal Aero and Aquila on this transaction.