KGAL has concluded a lease agreement with Canadian regional airline Porter Airlines for three De Havilland Dash-8 Q400 aircraft via its subsidiary GOAL, the long-standing joint venture between KGAL and Deutsche Lufthansa.
The aircraft are part of the KGAL APF 5 fund, which specialises in aircraft leasing, and has grown to a value of over €400 million ($420 million).
In 2021, the fund was launched as an individual mandate for a German occupational pension scheme despite the challenging conditions at the time. GOAL manages the fund as technical asset manager and is also a co-investor in the special AIF.
“As we expected, the market for aircraft financing has returned to a stable growth path. The significant increase in demand on the lessee side offers numerous opportunities for institutional investors,” said Stephan Gundermann, head of portfolio management aviation at KGAL.
Gundermann added: “Our decades of technical and investment expertise, which we can offer together with our subsidiary GOAL, allows us to actively exploit these opportunities for our investors and generate attractive returns from the favourable conditions.”
Porter Airlines currently operates one of the largest Dash-8 Q400 fleets in the world operating flights throughout Canada and the US.