Minneapolis, Minnesota-based global investment firm Castlelake is providing financing through its aviation lending programme to United Airlines secured on four 2020-vintage 787-9 Dreamliners with a value in excess of US$540 million.
“We are pleased to partner with United, one of the world’s largest airlines, to provide them with tailored financing solutions to support their global growth strategy,” said Armin Rothauser, Partner and Head of Asset-Backed Direct Lending at Castlelake. “In the current economic environment, we are seeing an increase in demand for flexible financing solutions and more opportunity to partner with airlines, lessors and other industry participants to deliver these solutions.”
Castlelake’s Aviation has been investing in the aviation sector for some 17 years. In addition, since March 2020, the company has originated, purchased or committed approximately US$5.4 billion in aviation lending opportunities. This transaction with United builds on Castlelake’s momentum working with aircraft operators as a capital provider and strategic partner, including the recent completion of two transactions totalling US$100 million.
Since inception, Castlelake funds have invested over US$17 billion in aviation opportunities and has acquired more than 650 aircraft and developed relationships with approximately 200 airline partners. (£1.00 = US$1.22).