Apollo Aviation expands fleet with latest acquisitions

Apollo Aviation Group, a multi-strategy aviation investment manager, reported that in the second quarter of 2016 it has contracted to purchase nine commercial aircraft including eight narrow-body and one wide-body. With the exception of one aircraft, the new aircraft are all from the in-production Airbus A320 and Boeing 737NG families. Eight of the aircraft were acquired with leases attached to airlines based in Europe and North America. Apollo Aviation Group’s current fleet comprises 101 aircraft and 30 engines and its customer base includes 50 different lessees based in 35 countries in North America, Latin America, Europe and Asia. William Hoffman, Apollo Aviation’s Chairman, commented, “We have had a strong start to the year and our strategy of acquiring mid-life in-production commercial aircraft for leasing, sale and part-out continues to attract interest. Our continuous growth and willingness to transition aircraft has made us an ideal partner for large public and private lessors focused on new deliveries, who are constantly looking to reduce their average fleet age through portfolio sales.”