GA Telesis and Tokyo Century Corporation announced today the launch of a new technology engine financing initiative focusing on a select group of new technology jet engines. The new joint initiative is hoped to enhance GA Telesis’ current technology engine leasing business by implementing a more competitive cost of capital for longer-term and more structured transactions.
The target portfolio will consist of the following engine models: General Electric GEnx, Rolls-Royce Trent 1000 and Trent XWB, Pratt & Whitney GTF and CFM International LEAP engines. GA Telesis and Tokyo Century are targeting the origination and closing of $1 billion new-technology engine transactions over the next 24 months.
“This is an unprecedented time in the history of aviation where each engine manufacturer is delivering a new technology engine simultaneously," said Abdol Moabery, CEO of GA Telesis. “With over ten thousand new-technology engines in the backlog, we are prepared to help our airline customers by providing them a customized financing solution to meet their needs,” he added.
“As a company that has built a global reputation for its leasing products, the initiative will continue to define Tokyo Century Corporation’s commitment to the aviation industry,” said Koichi Nakajima, deputy president of Tokyo Century. We are very enthusiastic about the market’s demand for leasing products such as this and we are committed to growing this,” he added.