Almada private equity fund sees value in used Boeing 737s
Canada’s newest player in the aircraft leasing business is ready to flex its muscles. Almada Inc, a Toronto-based private equity firm, is looking to buy as many as 10 additional aircraft for its new leasing fund after acquiring its first 5 planes. Having raised C$80m (US$61m) from wealthy individuals earlier this month, it has commitments for another $60m of equity and could deploy 5 times that amount in the coming months with the help of leverage, said CE Alon Ossip. The fund could eventually be worth as much as $400m, with a fleet of up to 15 planes, Ossip said. <br/>Almada’s returns hinge on an ability to find planes that are below market value and lease them out at higher rates. Ossip pointed to a recent transaction in which Almada found a plane in Russia whose owner, an airline, wanted to modernise its fleet. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-26/general/almada-private-equity-fund-sees-value-in-used-boeing-737s
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Almada private equity fund sees value in used Boeing 737s
Canada’s newest player in the aircraft leasing business is ready to flex its muscles. Almada Inc, a Toronto-based private equity firm, is looking to buy as many as 10 additional aircraft for its new leasing fund after acquiring its first 5 planes. Having raised C$80m (US$61m) from wealthy individuals earlier this month, it has commitments for another $60m of equity and could deploy 5 times that amount in the coming months with the help of leverage, said CE Alon Ossip. The fund could eventually be worth as much as $400m, with a fleet of up to 15 planes, Ossip said. <br/>Almada’s returns hinge on an ability to find planes that are below market value and lease them out at higher rates. Ossip pointed to a recent transaction in which Almada found a plane in Russia whose owner, an airline, wanted to modernise its fleet. <br/>
