Apollo Aviation Group contracts for $220m in acquisitions in 2013

Apollo Aviation Group, an international full service aviation asset manager, has contracted to acquire flight equipment valued at more than $220m in the first five months of 2013, including two A320 CEO family aircraft, one A330-200, one A330-300, seven B737NGs, and seven engines. Ten of these aircraft are on lease to airlines in Asia, Europe and North America. As of May 31, 2013, Apollo Aviation managed a total of 76 leased aircraft and engines. The acquisitions are all being made on behalf of SASOF II, which is an investment fund with approximately $595m in capital commitments that seeks to acquire mid-life in-production aircraft models for lease or immediate disassembly and resale of the systems, components and parts. SASOF II is managed by wholly-owned subsidiaries of Apollo Aviation. As of May 31, 2013, SASOF II had committed to acquire a further 25 aircraft and ten engines.