Lobo Leasing closes deal with AAR

Sikorsky S-92A

Lobo Leasing has closed the first of a two-part lease agreement with expeditionary airlift services provider, AAR Airlift Group, a division of global aerospace and defence company, AAR.

Lobo worked with H-Lease and with AAR developing a fleet solution serving two purposes for the company; first creating near-term liquidity and flexibility for AAR with sale and leaseback of two Sikorsky S-92As; second, by providing an attractive long-term lease of two new AgustaWestland AW189 for AAR’s 10-year SAR contract in the Falkland Islands for the UK Ministry of Defence starting in 2016.

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The transaction marks Lobo’s first ownership of the AW189 and deepens their fleet of S-92 heavy helicopters.

William Wolf, chief executive officer of Lobo Leasing says: “We combined the economics and characteristics of these two different aircraft and business opportunity profiles to provide a creative and customized fleet-planning solution for AAR – a world-class provider of aviation services to commercial airlines, government agencies and original equipment manufacturers,”

“We combined the economics and characteristics of these two different aircraft and business opportunity profiles to provide a creative and customized fleet-planning solution for AAR – a world-class provider of aviation services to commercial airlines, government agencies and original equipment manufacturers,”

“Additionally, it was great to work on the transaction with our partner, Tim Blockley of H-LEASE, who sourced the opportunity and contributed to the design and structuring of this complex transaction,” adds Wolf.

John Forston, CFO of AAR says: “Lobo provided a sale leaseback solution for AAR that was cost efficient and swiftly executed.”