Apollo Aviation grows fleet by 64% in 2016

Apollo Aviation Group, a multi-strategy aviation investment manager, released that in 2016 its fleet of mid-life aircraft grew by 64% while its assets under management (which includes invested capital, indebtedness and available capital) grew by 42% to US$3.5bn. In the fourth quarter, Apollo Aviation acquired six in-production narrowbody aircraft from the A320 and B737NG families, for US$131m. This brought the aggregate number of aircraft Apollo Aviation acquired in 2016 up to 55 with a total purchase price of US$1.28bn. Of the 55 aircraft acquired, 46 were narrowbody while nine were widebody with 96% of the aircraft being in-production models. The aircraft are from the A320ceo, B737NG and B757 families and 53 aircraft had leases attached. Additionally, Apollo Aviation acquired six engines.