AerSale®, a global supplier of mid-life aircraft, engines, used serviceable material, and maintenance, repair, and overhaul (MRO) services, announced today it has promoted Basil Barimo, formerly Chief Operating Officer, to Chief Executive Officer, and Craig Wright, formerly Chief Commercial Officer, to President, to facilitate rapid expansion of the business. AerSale founder Nicolas Finazzo will serve as Executive Chairman and co-founder Robert B. Nichols will serve as Executive Vice Chairman.
“Unburdened from the responsibility of day-to-day management, Bob and I will continue to steer AerSale’s overall direction and seek new synergistic acquisitions while we expand the platform,” said Finazzo. “Barimo and Wright are fully capable of leading the operations of our highly integrated, multi-faceted business model.”
In November 2018, the company announced its fourth strategic acquisition of an MRO business with the purchase of Miami-based component specialist Avborne.
“We have been extremely disciplined in every acquisition we have made of a business or product over the past decade, making sure the pricing and strategic fit are synergistic with the rest of the business,” added Finazzo. “The platform we have built is mature and capable of rapid growth with these new management promotions.”
“I’m proud Nick, Bob, and our Board have the confidence in Craig and me to continue building the business they started a decade ago,” said Barimo, AerSale’s new Chief Executive Officer. “With their guidance, I am convinced our expanded management team is second to none. There are additional promotions and new members to AerSale’s management team that will be announced in the coming weeks. This is just the beginning.”