Aergo Capital acquires first of three new Boeing 737-8 aircraft on lease to Lynx Air

16 February 2022 – Dublin, Ireland: Aergo Capital Limited (“Aergo”) has completed a sale and leaseback of the first of three B737-8 aircraft with Lynx Air (Lynx), Canada’s newest ultra-affordable carrier.  Each of the three aircraft will be financed with equity provided by CarVal Investment funds and debt arranged by AV AirFinance.

Fred Browne, Chief Executive Officer of Aergo, commented: “We are extremely happy to work together with Lynx Air and AV AirFinance on this transaction. With the closing of the first aircraft, Aergo has added a new aircraft type with the Max, a new lessee with Lynx Air, and a new financier, with AV Airfinance. We found all parties to be proactive and highly professional in this transaction which resulted in a smooth closing process. We look forward to further developing our commercial relationship with Lynx Air and AV AirFinance.”

“This is another exciting step as we work to fulfill our mission to make air travel more affordable for all, and for our passengers to experience our first five destinations. This is just the first of many Lynx aircraft to come into service, and we are looking forward to our partnership with Aergo Capital, CarVal Investors and AV AirFinance on this transaction,” said Merren McArthur, CEO, Lynx Air.

Justin Bradburn, Principal – Head of Transportation, CarVal Investors commented: “We are delighted that we have been able to consummate this transaction with Lynx Air and AV AirFinance. This deal was conceived during the depths of the COVID crisis but it was clear back then that Lynx Air had a great plan and vision for the future and we are excited that we are able to support that vision.”

We are very happy having the opportunity to work with Aergo on this transaction, said Per Waldelof at AV Airfinance, and appreciate the professionalism of the parties involved. We look forward to building on this first collaboration to create a long-term and close relationship.  

Smith, Gambrell & Russell (SGR) acted as lead counsel to Aergo, Clifford Chance acted as lead counsel to AV AirFinance and Vedder Price acted as lead counsel to Lynx Air. Matheson and Blakes advised on Irish & Canadian law respectively.