Aviation Capital Group Adds First A220 to its Portfolio
Aviation Capital Group LLC ("ACG"), a leading aircraft asset manager, announced the delivery of one new Airbus A220-300 aircraft on long-term lease to airBaltic. This aircraft is ACG's first A220 and the first of four A220-300 aircraft to be leased by ACG to airBaltic as part of a sale and leaseback transaction between ACG and the airline.
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Aviation Capital Group Adds First A220 to its Portfolio (Photo: Business Wire)
"We are proud to take delivery of our first A220 and welcome aiBaltic into the ACG family of customers," said Tom Baker, CEO and president of ACG. "As the only Airbus aircraft designed specifically for the 100-150 seat market, the A220 offers excellent fuel efficiency and passenger comfort in this segment of the market. The A220 incorporates state-of-the-art aerodynamics and is powered by Pratt & Whitney's advanced PW1500G geared turbofan engines."
"The current crisis enabled us to focus on the Airbus A220-300 as the only aircraft type airBaltic will fly in the future. Our aircraft choice has already showed itself as the most efficient, sustainable aircraft for our market," said Vitolds Jakovlevs, CFO of airBaltic. "We are glad that ACG will now be a part of our growth story."
This press release contains forward-looking statements within the meaning of applicable federal securities laws. Any such statements, other than statements of historical fact, are based upon ACG's current expectations and assumptions concerning future events, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Accordingly, such statements are not guarantees or assurances of any aspect of future performance. Such statements speak only as of the time when made, and ACG undertakes no obligation to update any such statement unless required by law.
About Aviation Capital Group
Aviation Capital Group was founded in 1989 and is one of the world's premier full-service aircraft asset managers with approximately 400 owned, managed and committed aircraft as of December 31, 2020, which are leased to approximately 85 airlines in approximately 40 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.
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