IAT Leasing completes first deal, acquires two 737-800 on lease to Air Europa

IAT Leasing has completed its first deal with the acquisition of two 2013 vintage 737-800 aircraft on behalf of funds managed by Taconic Capital Advisors, providing the equity from one of its private funds. The planes were previously owned by Chishima Real Estate and managed by Itochu Corporation. The aircraft have been sold to Air Europa on operating leases, with AV AirFinance providing financing for the transaction. ""This acquisition marks an important milestone for IAT, as the platform’s inaugural transaction, as well as our first deal on behalf of our partners at Taconic Capital Advisors,"" said IAT CEO Martin Browne. ""This deal also marks a continuation of our shareholder’s long-standing relationship with Chishima and Itochu, which we are delighted to have expanded to IAT."" IAT chairman Magnus Stephensen commented: ""We have had the pleasure of working with Chishima and Itochu on multiple transactions over many years and this deal is a testament to our focus on building and nurturing long term partnerships. IAT are pleased to welcome Taconic and Air Europa as partners and are excited to further develop these new relationships in the near future."" Reed Smith acted as acquisition lead counsel to IAT and Taconic. Clifford Chance acted as lenders counsel to AV AirFinance. KPMG advised IAT on tax matters. Browne, formerly of Aergo Capital, had told Airline Economics that after the turbulence of the pandemic dramatically scaled down aircraft production, he saw a ""once-in-a-generation opportunity"" to enter the competitive aircraft leasing industry. Seizing this opportunity, he established IAT Leasing with Stephensen in 2023 as an independently owned aircraft leasing platform. IAT is supported by Icelease, the well-established Icelandic aircraft leasing company founded in 2005.