RESIDCO has announced the closing of a US$100 million commercial aircraft engine acquisition facility provided by Huntington National Bank, a US$223 billion-asset regional bank headquartered in Columbus, Ohio.
The newly established debt facility is designed to support RESIDCO’s strategic expansion in the global aviation secondary market, with a specific focus on the acquisition of high-demand commercial aircraft engines.
“As the aviation industry continues its strong recovery, demand for engine leasing solutions and liquidity has never been greater,” said Scott Daniels, Managing Director Aviation at RESIDCO. “We are delighted by the confidence Huntington has placed in RESIDCO’s aircraft engine leasing platform. This facility provides the capital required to execute our growth strategy and to continue delivering value to our global airline and trading partners.”
Michael Yovkovich, President of RESIDCO, added: “This significant financing reflects the exceptional commitment and expertise of our team, whose relentless efforts have underpinned our success and growth. It marks a pivotal moment for the company. We are excited to begin building a major, long-term relationship with Huntington and greatly appreciate the confidence they have shown in our business model and our people.”
The facility will enable RESIDCO to further leverage its deep technical expertise and asset management capabilities. With this US$100 million commitment in place, RESIDCO is well positioned to capitalise on near-term market opportunities and to enhance its already substantial portfolio of mid-to-late-life commercial aircraft engines.
