Intrepid places 2 B777 aircraft on lease with Philippine Airlines

Intrepid Aviation has announced an agreement with Philippine Airlines for the long-term lease of two new B777-300ER aircraft, as a result placing the remaining two B777´s under its 2014 purchase agreement with Boeing, the company said.

The aircraft are scheduled for delivery to the Philippine flag carrier in December 2017 and will support its growth and fleet modernization objectives.

Intrepid Aviation is a privately held commercial aircraft lessor that invests in and manages a fleet of modern, in demand commercial jet aircraft on long-term lease to airline customers worldwide. The company is headquartered in Stamford with offices in Dublin and Singapore.

Intrepid Aviation´s shareholders are Reservoir Capital Group LLC, established in 1998 as a privately held investment firm with a flexible, opportunistic investment approach that has approximately USD 7bn in assets under management, and Centerbridge Partners, LP, a private investment firm headquartered in New York City with approximately USD 25bn in capital under management.