Michael Gangemi and Al Nigro, Managing Members, are continuing their strategy of investing in mid-life and older Airbus and Boeing narrow body aircraft

Dublin/Dallas: 21st January 2019: On the tenth anniversary of its founding, WNG Capital LLC, an independently owned, specialist operating lessor dedicated to investing in used commercial aircraft manufactured by Airbus and Boeing, announces the closing of WNG Aircraft Opportunities Fund II. WNG targeted a USD$300 million fund raise to invest in late life narrow body aircraft and is oversubscribed with USD$345 committed to-date and a final closing for two additional investors expected in February 2019. Fund II will primarily invest in mid-life to older narrow body aircraft. The new fund will build on WNG Capital’s successful track record, generated since its 2009 inception and realized while building a portfolio of 59 mid-to-end of life aircraft valued in excess of USD$850 million.

Fund II is expected to acquire approximately 40 to 60 Boeing and Airbus narrow body aircraft with ages ranging from 15 to 20+ years and remaining lease terms of 12 to 48 months. Fund II is closing its first investment and has proposals outstanding for a number of suitable aircraft. WNG has an extensive global network of industry contacts and potential lessees with whom it will partner as it deploys Fund II capital.

Commenting at the 2019 global aircraft finance conferences in Dublin, Michael Gangemi, Managing Member at WNG Capital, said that “WNG is very satisfied with the size of Fund II and the timing of its closing. Many lessors are focused on acquiring younger and mid-life aircraft, but WNG sees continued opportunities to invest in older aircraft on shorter leases. We expect Fund II’s capital will be complementary to other sources that airlines and lessors may have.”

Michael Gangemi
Managing Member at WNG Capital

Al Nigro, Managing Member, added, “This is a narrow asset class. Older aircraft on short leases require deep technical knowledge, detailed contracts experience and risk management skills. The team at WNG Capital has managed older aircraft through multiple market cycles. We have the performance record and committed capital to reassure lessors and airlines seeking high quality counterparties to purchase older aircraft from their portfolios.” Al Nigro
Managing Member at WNG Capital

Gangemi and Nigro have focused on building WNG as an independently owned, specialist operating lessor with comprehensive marketing, technical, legal and risk management skills tailored to managing the unique requirements of older aircraft. WNG currently employs nineteen professionals.