Aergen Acquires Four Mid-Life Narrowbody Aircraft

Aergen Aviation Finance Limited announced today that it has acquired four mid-life, narrowbody passenger aircraft on lease to various airlines: Virgin America, Monarch Airlines, TAME, and South African Airways.

Robert Genise, CEO of Aergen Management Services, commented, "We are pleased to have completed the acquisition. Our long-standing industry relationships and our ability to provide airlines and lessors with full-life cycle solutions position us to substantially expand the fleet through the remainder of 2015."

Aergen is an aircraft leasing company led by Genise, a long-time industry executive, and a management team that has worked together for more than 25 years. The company raised an initial $200 million of committed equity capital from a group of financial and strategic investors led by Greenbriar Equity Group LLC.

Avioserv, an established late-life aircraft engine parts management company and a wholly-owned subsidiary of Aergen, has also been active in the acquisition market, recently acquiring two V2533-A5 engines currently on lease with Onur Air.