Apollo Funds and Merx Aviation enter into sale-leaseback transaction with Air France
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NEW YORK, May 24, 2021 (GLOBE NEWSWIRE) – Funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (with its consolidated subsidiaries “Apollo”) and Merx Aviation (“Merx”), a global company An aircraft leasing, management and financing company, today announced the conclusion of a sale and leaseback transaction with Air France, a subsidiary of the Air France-KLM group and one of the world’s leading airlines. The transaction includes two Boeing 777Fs. The aircraft, manufactured in 2009, was acquired by an aviation platform established by Apollo, which invests in a diverse set of aircraft types, vintages and jurisdictions and is served by Merx.
Gary Rothschild, CEO of Merx and Head of Aviation Finance at Apollo, said: “We are pleased to have completed this transaction with Air France and to add two more high performance Type 777F aircraft to our portfolio. The 777F is a premier long-haul freighter and an integral part of the global cargo fleet. In today’s environment of high demand for international air cargo, the capacity and range of the 777F enables operators to quickly and efficiently transport large amounts of cargo over long distances while minimizing fuel stoppages and associated costs. This transaction continues to show how the Apollo platform and Merx work together as a flexible capital solutions provider, creating accretive deals for our investors and counterparties. We look forward to continuing our relationships with Air France and other airlines to provide greater financial flexibility.
Merx operates an integrated aviation platform focused on leasing, managing and financing global aircraft, with a fleet owned and managed in 28 countries. With operations in New York, Dublin and Singapore, Merx was founded in 2012 and is a holding company 100% owned by Apollo Investment Corporation (NASDAQ: AINV), a publicly traded business development company managed by Apollo Investment Management. , LP, a subsidiary of Apollo.
Apollo is a high growth global alternative asset manager. We seek to provide our clients with excess return at every step of the risk-return spectrum, from investment grade to private equity, with a focus on three business strategies: return, hybrid and opportunistic. Through our investing activity on our fully integrated platform, we meet the retirement income and financial performance needs of our clients, and we deliver innovative capital solutions to businesses. Our patient, creative and savvy approach to investing aligns our clients, the companies we invest in, our employees and the communities we impact on, to expand opportunities and drive positive results. As of March 31, 2021, Apollo had approximately $ 461 billion in assets under management. For more information, please visit www.apollo.com.
Peter Mintzberg, Head of Investor Relations
Apollo Global Management, Inc.
For the media
Joanna Rose, Global Head of Corporate Communications
Apollo Global Management, Inc.