AvAir and Wings Capital Partners Announce Joint Venture Agreement
AvAir (Chandler, AZ), and Wings Capital Partners just announced the rollout of their new joint venture, AvWings, which will acquire mid-to-end of life aircraft, both on- and off-lease, for eventual partout.
AvAir, founded in 2000, is a respected leader in the aviation aftermarket, offering airlines, OEMs, MROs and stockists an extensive array of products and services plus unrivalled, personalized customer service and support. Wings Capital Partners, founded in 2013 by R. Stephen Hannahs and Two Sigma Private Investments, is a boutique aviation investment firm focusing on mid-life commercial jet leasing.
“This partnership adds a tremendous level of predictability to our product offering,” begins AvAir President Mike Bianco. “In the past it was difficult to predict the products we’d have to support our customers prior to winning a bid. Now, we have much larger financial capability to acquire assets for partout, plus access to a full service leasing company that allows us to acquire on-lease aircraft. As a result, we can now give our customers a more accurate forecast of material coming down the pipeline.”
With over 1600 customers in 60 countries, AvAir offers a strong and loyal customer base for Wings Capital Partners to leverage. “Wings Capital Partners was founded to bring more institutional capital to the mid-life aircraft leasing market,” said founder and CEO R. Stephen Hannahs. “This joint venture with AvAir gives us access to their deep understanding of aircraft residual values as well as an integrated end-of-life solution for the aircraft we acquire.”
A natural fit for AvAir and Wings Capital Partners, the announcement of AvWings comes at a particularly momentous time for AvAir, which is just weeks away from moving into its new 180,000 square foot state-of-the art flagship headquarters.