Aergo Capital has acquired the ownership interest in a BVI entity which holds the ownership interest in four Bombardier Q400 NextGen aircraft. The existing financing with Export Development Canada will remain in place. The four 2014 vintage aircraft bear Manufacturers Serial Numbers’ 4469, 4472, 4475 and 4476. All four aircraft are on long term operating leases with Ethiopian Airlines. This acquisition brings Aergo’s fleet to 30 aircraft.
Aergo Capital’s CEO Fred Browne said “This acquisition is in line with our strategy of acquiring younger aircraft on long term lease and trading out of older, classic aircraft. We are excited to have Ethiopian Airlines as a lessee as they continue their expansion.”
About Ethiopian Airlines
Ethiopian Airlines (Ethiopian) is the flag carrier of Ethiopia. During the past sixty five plus years, Ethiopian has become one of the continent’s leading carriers, unrivalled in Africa for efficiency and operational success, turning profits for almost all the years of its existence. Operating at the forefront of technology, the airline has also become one of Ethiopia’s major industries and a veritable institution in Africa. It commands a lion’s share of the pan African network including the daily and double daily east-west flight across the continent. Ethiopian currently serves 93 international and 20 domestic destinations operating the newest and youngest fleet. For more information visit www.ethiopianairlines.com
A&L Goodbody acted as lead transaction counsel for Aergo Capital and KPMG acted as tax and accounting adviser. Smith Gambrell & Russell acted as NY counsel for Aergo Capital, Maples acted as Cayman counsel and Applebys’ as BVI counsel.