GA Telesis, LLC. (“GAT”) has completed a purchase and leaseback transaction of six Embraer E170 aircraft with Republic Airline, the company said.
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.
Earlier this year, Wafra Capital Partners Inc. (“Wafra Capital Partners”) and GAT announced GAIN 2, a USD 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.
Founded in 2002 by Abdol Moabery, GA Telesis has grown to become a global provider of integrated aviation solutions serving the aviation and aerospace industries. Earlier this year, GA Telesis, along with its shareholder Tokyo Century Corporation announced over USD 2.5 billion in new capital initiatives surrounding leasing products over the next 36 months.
Republic Airline, based in Indianapolis, operates a fleet of 188 Embraer 170/175 aircraft and offers scheduled passenger service with 900 daily flights to 100 cities in 35 US states, Canada, the Caribbean and Central America. The airline provides fixed-fee flights operated under the major airline partner brands of American Eagle, Delta Connection and United Express.