October 19, 2017– Fort Lauderdale, Florida – GA Telesis, LLC. (“GAT”) announces the completion of a purchase and leaseback transaction of six Embraer E170 aircraft with Republic Airline (“Republic”).
GAT completed the acquisition of six Embraer E170 aircraft from Republic Airline earlier this month. Simultaneous with the purchase, the aircraft were placed on long term leases with Republic. The aircraft will be operated by Republic under a long term fixed fee capacity purchase agreement. This is the initial transaction funded by GA Telesis Aviation Investments 2 LLC (“GAIN 2”) an aviation investment vehicle managed by GA Telesis Capital Management, LLC, a subsidiary of GA Telesis.
“We are very excited to complete the inaugural GAIN 2 transaction with Republic Airline,” commented Marc Cho, President of GA Telesis’ LTI Group. “We look forward to commencing a prosperous leasing relationship with Republic” he added.
“We are pleased to establish a new relationship with GA Telesis,” commented Joe Allman, Senior Vice President and Chief Financial Officer of Republic. “This transaction is consistent with our initiative to continue to diversify our aircraft financing portfolio. Upon closing of the transaction, we will own approximately 85% of our fleet. We look forward to working with the GA Telesis team” he added.
Earlier this year, Wafra Capital Partners Inc. (“Wafra Capital Partners”) and GAT announced GAIN 2, a $500 million fund raised from institutional and private clients advised by Wafra Capital Partners to focus on aircraft and engine investment opportunities. This capital raise constitutes the second round of institutional funding from Wafra Capital Partners.