New aviation leasing business takes off

Two aviation industry veterans, Ray Sisson and Ed Wegel, have announced the launch of a new commercial aircraft leasing company, called AVi8 Air Capital, which will have its commercial office in Miami.

Sisson was president and CEO of global aviation leasing company AWAS from 2010-2016, and has also held several leadership positions at GE Capital Aviation Services (GECAS). He becomes Avi8’s executive chairman.

Wegel, who takes on CEO duties at the new company, has over 30 years of experience in the airline industry, investment banking and aviation finance including spells with Lehman Brothers and Eastern Airlines Group.

In a statement, the pair said: “With the consolidation trend among the major leasing companies, we have determined the need and the opportunity for a new leasing company that can take advantage of the current aircraft finance/ airline order position environment as well as the ability to provide good solid risk adjusted current returns to investors.”

AVi8 will invest, both strategically and opportunistically, in commodity narrowbody and widebody aircraft, with good geographic and credit diversity.

The founders said AVi8 will be looking to partner in three areas. These are working with manufacturers by identifying and supporting new airline customers’ fleet growth; financially supporting airlines in their aircraft acquisitions and dispositions to optimize fleet efficiency; and supporting other lessors by acquiring portfolios of on-lease aircraft thereby enabling them to manage exposure, portfolio age, and geographic/credit/asset exposures.

Sisson said: “AVi8 is a new concept designed to take aircraft leasing to the next level: both the development of a strong, value-delivering portfolio of aircraft assets and the unparalleled solutions we will deliver to our airline customers.

“We are confident that this marriage of my experience growing high performance, large lessor platforms, combined with Ed’s experience as the CEO of a successful scheduled service and charter airline, provide for a unique marriage of skillsets in our industry…more nimble solutions, better performance for our airline customers. “

We look forward to establishing and growing the AVi8 fleet, partnering with lessors, airlines and manufacturers to deliver leasing and financing solutions to the global aviation community.”