Crestone Air Partners Purchases Eleven Boeing 757-300 Aircraft Leased to Condor

DENVER, Colorado, March 26, 2024– Crestone Air Partners, Inc., a full-service aviation asset management platform backed by Air T, Inc., proudly announces the successful completion of the acquisition of eleven Boeing 757-300 aircraft This transaction represents a significant growth milestone and demonstrates Crestone's ability to transact on niche assets at scale.

All eleven aircraft were acquired subject to existing lease agreements with Condor. Condor, founded in 1955, stands as one of the world's leading leisure airlines, serving over 9 million customers across 100 destinations in Europe, Africa, and the Americas. The airline operates a fleet of over 50 aircraft consisting of A320-200, A321-200, A320neo, A321neo, 757-300, and A330neo types.

"We are thrilled to welcome these Boeing 757-300 aircraft into our portfolio. This acquisition enhances our current portfolio and signifies the commencement of a promising partnership with Condor," commented Steve Williamson, Principal, Head of Trading.

The transaction was funded with equity from Crestone and Atalaya Capital Management, an existing joint venture partner since 2021. "We are pleased to continue to expand our relationship with Crestone. This transaction evidences creativity, collaboration and our flexible investment mandate within commercial aviation," commented Daniel Rosato, Managing Director, Atalaya Capital Management.

"We are proud of our steadfast partnership with Atalaya; they've been a great supporter of our platform growth. Their proven track record in aviation will facilitate future innovative deals at Crestone," states Kevin Milligan, Chief Investment Officer.

Crestone remains committed to delivering value to its investors, partners, and clients through creative and flexible leasing and trading solutions. The Crestone Edge comes from a deep understanding of the underlying asset value, maintenance cycle, and lease dynamics – these factors continue to become an ever more critical part of mature aircraft leasing. Through Air T's integrated platform, Crestone draws on the expertise and capabilities of interrelated aviation subsidiary businesses to deliver optimized residual value outcomes.