Aergo Capital announces the remarketing of two (2) B787-9 aircraft to go on lease to Air Premia, Aergo acting on behalf of UK Export Finance (UKEF)

4 August 2022 – Dublin, Ireland: Aergo Capital Limited (“Aergo”) has remarketed two B787-9 aircraft, bearing manufacturer serial numbers 63314 and 63315, to be delivered on operating lease to Air Premia. The transaction is being executed on behalf of UKEF, with the lease agreement signed today in Singapore. Aergo Capital has acted as the asset manager and remarketing agent with the first aircraft (63314) being delivered in the coming weeks and the second aircraft (63315) scheduled to deliver early in 2023.

Fred Browne, Chief Executive Officer of Aergo, commented: “We are pleased to have placed two B787-9 aircraft on lease to Air Premia and to represent UK Export Finance. Our asset management team worked very effectively in remarketing these aircraft and I would like to commend them. This transaction demonstrates Aergo’s ability to find suitable and timely solutions for any aircraft placement assignments and highlights our commitment to growing our asset management portfolio. Special thanks to all members of the team at UKEF and Air Premia for the ease at which this deal was executed.”

David Power, Executive Chairman – Aergo Structured Products, commented: “This deal showcases Aergo Capital’s superb market reach, it’s asset management platform and capabilities, it exhibits our team’s ability to both effectively and efficiently find solutions and to place aircraft, every success to Air Premia”.

Chris Leeds, Senior Restructuring Officer at UKEF, commented: “UKEF is pleased to welcome Air Premia as a new customer. We look forward to a long and fruitful relationship. During the COVID pandemic, UKEF has worked proactively to resolve the problems that arose from that crisis to achieve our statutory objective of ensuring the taxpayer makes no ultimate loss. We have been ready to take aircraft back from their original operators, and remarket them to new airlines, something export credit agencies have been reluctant to do in the past, but something we will continue to do in the future. We traditionally support aircraft in finance leases. These are operating leases, which is again unfamiliar ground for export credit agencies, but ground we are comfortable being on. We have been supported throughout this process by Aergo, with assistance from SGI Aviation. This truly was a team effort.”

Myeongseob Yoo, Chief Executive Officer of Air Premia, commented: “It is our great pleasure to close a lease agreement deal with Aergo Capital. By adding two more Dreamliner to our fleet, Air Premia has now secured five Boeing 787-9. We believe it is now a step closer to optimise and realise our business model as a Hybrid Service Carrier that offers an affordable price, service and comfort in the medium and long-haul market. Moreover, this lease contract was important for us to create new customer value through reliable aircraft and laid the foundation for expanding our routes to North America and Europe in response to the market recovery. My special thanks also goes to the UKEF, Boeing and Rolls-Royce teams for their best efforts to successfully close this deal.”

Christy Reese, Vice President of Commercial Sales and Marketing, Asia at Boeing, commented: “We are thrilled that Air Premia is committed to adding two more 787-9s to their fleet. The super-efficient 787-9 will enable Air Premia to expand its regional and international network, while positioning the airline for growth in the years to come.”

Chris Davie, Senior Vice President, Customers – Asia Pacific, Rolls-Royce commented: “We congratulate Air Premia and Aergo Capital on the signing of the lease agreement of two Boeing 787-9 aircraft powered by our Trent 1000 engines, and we look forward to continuing to support both with our value-added services in the future.”