Voyager Aviation Holdings, LLC (“Voyager” or “the Company”) today announced that it has entered into an agreement with AirBridgeCargo Airlines (“AirBridgeCargo”) to convert the operating lease on one (1) of the Company’s 747-8F aircraft into a finance lease. The aircraft remains on lease to the current lessee, AirBridgeCargo. The aircraft will remain in the Voyager fleet and the Company will continue to receive periodic cash flow to equity from the aircraft.
The net proceeds from the transaction are expected to provide the Company with significant additional liquidity, which Company intends to use for general corporate purposes. The transaction is indicative of the strength in the cargo market, the performance of AirBridgeCargo, and the Company’s ability to provide solutions to its customers and to do so expeditiously.