IAT Leasing announces the acquisition of two (2) Boeing B737-800 aircraft on lease to Air Europa

12 June 2024 – Dublin, Ireland: IAT Leasing Limited (“IAT”) has completed the acquisition of two 2013 vintage Boeing B737-800 aircraft bearing manufacturers serial numbers 36591 and 36592, previously owned by Chishima Real Estate and managed by Itochu Corporation, on behalf of funds managed by Taconic Capital Advisors. The aircraft were sold with operating leases to Air Europa. AV AirFinance provided financing for the transaction.

Martin Browne, Chief Executive Officer of IAT, commented: “This acquisition marks an important milestone for IAT, as the platform’s inaugural transaction, as well as our first deal on behalf of our partners at Taconic Capital Advisors. The deal also marks a continuation of our shareholder’s long-standing relationship with Chishima and Itochu, which we are delighted to have expanded to IAT. Finally, we are grateful to Air Europa for their professionalism and support in getting the deal closed.”

Magnus Stephensen, Chairman of IAT, commented: “We have had the pleasure of working with Chishima and Itochu on multiple transactions over many years and this deal is a testament to our focus on building and nurturing long term partnerships. IAT are pleased to welcome Taconic and Air Europa as partners and are excited to develop these new relationships in the near future”

Chishima/ITOCHU commented: “We are pleased to have concluded this transaction with our long-time industry friends at IAT and to welcome IAT as our newest trading partner. We would also like to thank the team at Air Europa for a smooth transaction.”

Reed Smith acted as acquisition lead counsel to IAT and Taconic. Clifford Chance acted as lenders counsel to AV AirFinance. KPMG advised IAT on tax matters.