Toronto based private-equity firm, Almada Inc., led by Martin Goldfarb and Alon Ossip to launch a new aircraft leasing company of the same name, backed by a CAD$80 million investment.
The new company will initially acquire four commercial aircraft, including one B737-800, one A321, and two Q400s, and additionally one Basler BT67. The fleet is expected to grow 12 aircraft in the short-term, a $150-200 million investment.
Both Goldfarb and Ossip are not new to aviaiton, as they almost acquired Stellwagen Finance Co. Ltd. earlier in 2018. They were significant shareholders in the Dublin-based company along with Acasta. Goldfarb and Ossip now own 7% of Stellwagen, despite the company being sold to management in May 2018.
Almada will focus on narrowbody aircraft, roughly 8-10 years old, with Stellwagen acting as the servicer of the aircraft. Stellwagen will also assist in acquiring, leasing and selling additional aircraft.
Almada plans to lease its fleet to mainly airlines, as well as governments, cargo companies, and NGOs.