Eaglexpress Air Charter closes sale-leasebacks on two B747-400 aircraft
Kuala Lumpur, Malaysia, 22th July 2015
Eaglexpress Air Charter Sdn Bhd (www.eaglexpressair.com), a privately held Malaysian global Umrah/Hajj charter operator, has successfully closed two sale-leaseback transactions on two Boeing 747-400 aircraft with aircraft lessor Aersale, Inc, a Florida corporation.
The aircraft transactions are valued at over USD30 million in total, and closed during the month of June.
Aersale Inc. specializes in mid-life and older aircraft leasing, trading, spare engines and spare parts with its Headquarters in Coral Gables Florida, offices in Dublin, Cardiff and Singapore, an MRO facility in Roswell New Mexico, and Materials Distribution Center in Dallas Texas (http://www.aersale.com/).
Legal counsel used by the Malaysian charter operator was the Singapore branch of Milbank, Tweed, Hadley & McCloy LLP.
“Our business is growing steadily. Monetizing our existing aircraft assets will help fund our fleet expansion plan,” says Captain Azlan Zainal Abidin, President, Chief Executive Officer, and the largest shareholder of the charter operator. Captain Azlan is a commercial airline pilot with more than 26 years experience.
Currently the Umrah/Hajj charter operator has a fleet of four B747-400, with an additional two to be added in 2016.
“An A330-200 aircraft service is also planned for the end of 2015. By the end of 2019, Eaglexpress plans to have a total 30 aircraft operating: six B747-400, 12 A330-200 and 12 B737-800,” says Shamini Law, Chief Operating Officer.
Eaglexpress is currently in discussions with international lessors to secure the best aircraft available. It is also in negotiations with private equity investors who have expressed interest in this Aircraft, Crew, Maintenance and Insurance (ACMI) operator.
The main clients of Eaglexpress are Saudi Arabian Airlines and Nas Charter. Eaglexpress is the only charter airline that is flying charters for both SaudiaA and Nas.
Eaglexpress was incorporated in August 2011, and granted its Aircraft operating Certificate (AOC) and Aircraft Service Permit (ASP) to operate non-scheduled air services for passenger and cargo in August 2012 by Malaysia’s Department of Civil Aviation.
At the beginning of 2015, Aves Aviation Consulting (www.avesaviation.com), an independent global aviation advisor, was formally appointed as exclusive aviation advisor to the charter operator, with several of its key staffers seconded. Shamini Law was appointed as its Chief Operating Officer.
She was previously COO at Raya Airways (formerly known as Transmile Air Services), CFO at Lion Air, and Treasurer at AirAsia. She is also the CEO of Aves Aviation Consulting.
Her extensive experience includes raising equity and pre-IPO investments for the airlines she has worked with. Shamini oversees all areas of operations at Eaglexpress, and is the primary lead on all aircraft related matters.
Meanwhile Andriaty Abdul Rahman, also from Aves Aviation Consulting, is appointed as Finance Director. She was previously Finance Director at Flynas in Saudi Arabia, CFO for Firefly of Malaysia, and has held various key financial management roles at AirAsia.
Andrew Law, Business Development, Director
Andrew.Law@avesaviation.com OR Andrew.Law@eaglexpressair.com
Eaglexpress Air Charter: www.eaglexpressair.com
Aves Aviation Consulting: www.avesaviation.com
Eaglexpress Air Charter Sdn Bhd (956168-D)
Block A-9-01, A-9-02, Oasis Square, Oasis Damansara,
No. 2, Jalan PJU 1A/7A 47301 Petaling Jaya,
Selangor Darul Ehsan, Malaysia
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