Altavair AirFinance, a commercial aviation finance company, received a $1 billion investment from global investment firm from KKR.
KKR will make a $1 billion capital commitment primarily from its credit and infrastructure funds, which may be supplemented with additional commitments over time, to acquire commercial aircraft in partnership with Altavair over the next several years and Altavair will be KKR’s partner for aircraft leasing investments going forward. KKR will also acquire a 50% interest in Altavair as part of the long-term partnership.
The initial investment will go towards the acquisition of six cargo aircraft on long-term lease with a diverse group of airline counterparties.
Led by CEO Steve Rimmer, Altavair is an asset manager focusing on the acquisition of new and used commercial aircraft for leasing to domestic and international passenger airlines and cargo operators. Since its inception in 2003, the firm has completed over $8 billion in commercial aircraft lease transactions with over 40 airline customers in 27 countries representing over 200 individual Boeing and Airbus aircraft.
Altavair maintains offices in Seattle, London, and Singapore.