News & Insights

December 2024

volofin Capital Management Ltd.  Closes Inaugural $538MM Aviation Loan ABS - VFIN 2024-1

VFIN 2024-1 issued approximately $534 million of notes (including approximately $27 million of residual interest notes retained by volofin) that was used to acquire lender interests in a portfolio of 22 aviation loan facilities (majority originated by volofin).


“We are extremely excited and proud to complete this transaction. It represents a significant accomplishment for volofin as a first-time issuer,” Bob Peart, CEO of volofin, said. “The ability to secure a AAA rating and the strong endorsement from a prominent group of institutional investors is a testament to the strength of the volofin platform, our strong track record and position in the market.  The demonstrated access to the capital markets expands our funding base, and further enhances our ability to provide traditional and bespoke financing solutions for our customers.” 

BNP Paribas served as Sole Lead Bookrunner and Co-Structuring Agent alongside volofin who also served as Co-Structuring Agent. Deutsche Bank Securities and SMBC Nikko served as Co-Managers.  Arnold & Porter Kaye Scholer LLP served as Counsel to volofin and the Issuers, while Milbank LLP served as Counsel to the Initial Purchasers. 

volofin Capital Management Ltd. provides Virgin Atlantic with an Inventory Financing Facility for up to US$100m

NOVEMBER 2024

volofin Capital Management Ltd (“volofin”) a London based aviation alternative lending platform and asset management firm, backed by Delaware Life Insurance Company (a Group 1001 company), is pleased to announce the structuring and closing of a spares inventory financing facility for Virgin Atlantic for up to US$100m.

Acting as the sole arranger, volofin structured the financing, secured against the airline’s entire spares inventory consisting of a mix of rotables, consumables and expendables.

The inventory plays a crucial role in maintaining Virgin Atlantic’s fleet reliability and is essential for the ongoing maintenance and punctual on time despatch for the airline.

The transaction marks the first time volofin has provided a loan facility secured against a package of spares, which by definition is a constantly changing inventory being used by the airline in day-to-day operations.

OCTOBER 2024

volofin Capital Management Ltd., Rive and LXA Leasing have closed a new financing transaction for a 107-asset portfolio.

 

volofin Capital Management Ltd. ("volofin") is pleased to announce the structuring and closing of a portfolio financing transaction. Acting as the sole lender and lead arranger, volofin facilitated the financing for RIVE Private Investment ("Rive"), a European investment firm specializing in transportation assets and energy transition infrastructures, secured against a portfolio of 107 aircraft engines and APUs currently on short-term leases to a diversified group of lessees.

July 2024

volofin Captial Management Ltd. annouces completion of their first transaction with Magnetic Group.

 

We are delighted to announce that volofin Capital Management have completed their first transaction with Magnetic Group with respect to the financing of aircraft, engines and landing gears, with a positive pipeline to offer further financing and support this next stage in Magnetic's business plan.

We look forward to working with Alex Vella, Sabina Juciene, Risto Mäeots and Erikas Zubrus on future projects.

Congratulations also to Adam Kubas, CFA who lead the transaction for volofin Capital Management.

JuLY 2023

DAOL Asset Management and volofin Capital Management Ltd. successfully close the financing for B777-300ER aircraft operated by Air France

 
 

volofin Capital Management Ltd. (“volofin”) and DAOL Asset Management (“DAOL”) have closed the financing of one B777-300ER aircraft on lease to Air France (“Air France”).

volofin reported that the transaction represents its inaugural transaction with the South Korean-based asset manager.  

Jan Bockelmann, Managing Director of volofin added: “We are very pleased to have assisted DAOL with this important and time sensitive financing requirement and look forward to many more.”

DAOL’s managing director, Woo-Song Jung describes volofin as “the perfect partner for this transaction”, citing its “reputation as a reliable lender” and “extensive experience in aviation finance”.

He added, “we are excited to join forces with volofin and contribute our asset management expertise to ensure the successful execution of this loan financing”.

volofin acted as sole Structuring Agent and Arranger whilst Clyde & Co acted as lead counsel for volofin and Yulchon LLC acted as lead counsel for DAOL.  

January 2023

volofin Capital Management Ltd. is pleased to announce a number of staff promotions within its London team

 
 

Jan Bockelmann has been promoted to Managing Director (Origination), Olivia Cornelius has been promoted to Senior Legal Counsel (Transactions), Adam Kubas has been promoted to Associate Director (Origination) and William Weston has been promoted to the role of Analyst.

Senior Managing Director and Co-Founder, Robert Jack said, “We are very happy to announce these promotions and to be able to reward our colleagues for their continued efforts and contribution to volofin’s growth. Jan joined volofin shortly after our launch in 2019 and has been an integral member of the Origination team since the outset, developing and maintaining several key customer relationships. Adam’s promotion reflects his diligence, consistent hard work and his expanding responsibilities within the Origination team. William joined our team as an intern, and we are very proud of his development and his promotion to the role of Analyst demonstrates that.”  

General Counsel, Andrew Carswell said, “we were delighted when Liv agreed to join the legal team at volofin. She has been an excellent addition and her promotion to Senior Legal Counsel is a reflection of her hard work and the significant contribution Liv has made to the company in a relatively short time.”

December 2022

Zephyrus Aviation Capital and volofin Capital Management Ltd. successfully close the financing for aircraft operated by Wizz Air Hungary and Volaris

 

volofin Capital Management Ltd. (“volofin”) and Zephyrus Aviation Capital (“Zephyrus”) have closed the acquisition financing of one A320 aircraft on lease to Wizz Air Hungary Ltd. (“Wizz”) as well as one A320 aircraft on lease to Concesionaria Vuela Compañía de Aviación S.A.P.I. de C.V. (“Volaris”).

The transaction follows the American Airlines, Inc. financing the parties entered earlier this year and is testament to the strong relationship between the two companies.

As per the precedent, volofin Capital Management Ltd. acted as sole Structuring Agent and Arranger while volofin Holdings D.A.C. acted as Facility Agent and Security Trustee.

June 2022

volofin Captial Management Ltd. and Aergo Capital announce the successful financing of five Dash 8-Q400 aircraft

 

Aergo Capital Limited (“Aergo”) has secured a US$17.5m loan facility from volofin Capital Management Ltd. (“volofin”) to assist in the finance and acquisition of five (5) De Havilland Dash 8-400 aircraft on lease to Porter Airlines.
Fred Browne, Chief Executive Officer of Aergo, commented: “We are delighted to have successfully completed the financing of the five-turboprop aircraft on lease to Porter Airlines. Aergo is very happy to complete this third financing transaction with volofin and we are looking forward to doing more business together in the future”.
Stewart Tanner, Senior Managing Director at volofin, commented: “We are very pleased to have worked with Aergo and Porter with their respective legal teams, and to further grow our relationship with the team at Aergo”.

May 2022

volofin Capital Management Ltd. closes loan facility to assist in the finance and acquisition of two B737-800BCF aircraft on lease to Bluebird Nordic for a subsidiary of Aergo Capital Limited 

 
 

volofin Capital Management Ltd. (“volofin”) has structured and closed a US$19m loan facility to assist in the finance and acquisition of two (2) B737-800BCF aircraft on lease to Bluebird Nordic for a subsidiary of Dublin based Aergo Capital Limited (“Aergo”). 

Fred Browne, Chief Executive Officer of Aergo, commented: “We are delighted to have successfully completed the financing of the two freighter aircraft on lease to Bluebird Nordic. Aergo is continuously growing its financier relationships and is very happy to have concluded this transaction with volofin.  We look forward to completing many more transactions together in the future.”

Stewart Tanner, Senior Managing Director of volofin added: “very pleased to have closed another deal with Aergo and look forward to many more.”

volofin acted as the sole arranger and lender, whilst Clyde & Co acted as lead counsel to volofin and Smith, Gambrell & Russell, LLP acted as lead counsel to Aergo.”

April
2022

volofin Capital Management Ltd. closes narrow-body portfolio loan facility for Aero Capital Solutions subsidiary

 
 

volofin Capital Management Ltd. has structured and closed a US$120m loan facility to assist in the finance and acquisition of a portfolio of aircraft for a subsidiary of Texas based Aero Capital Solutions (ACS). The facility is secured by a portfolio of 11 (eleven) narrow-body aircraft on long term lease to a diverse portfolio of 6 lessees.

April
2022

Zephyrus Aviation Capital and volofin Capital Management Ltd. close inaugural financing transaction for two aircraft on lease to American Airlines, Inc.

 
 

volofin Capital Management Ltd. (“volofin”) has completed the structuring and debt financing of a pair of narrow body aircraft on lease to American Airlines, Inc. (“AAL”) for Zephyrus Aviation Capital (“Zephyrus”). The financing is the first transaction between Zephyrus and volofin and fits very well into both companies’ strategy around mid-life narrow body aircraft.

The aircraft are also the first AAL leased aircraft in Zephyrus’ and volofin’s portfolios respectively. volofin Capital Management Ltd. acted as sole Structuring Agent and Arranger while volofin Holdings D.A.C. acted as Facility Agent and Security Trustee.

Richard Genge, Director Fleet Strategy at Zephyrus, stated: “We are delighted to add American Airlines and volofin to the Zephyrus portfolio. Having volofin as a financing partner on this transaction was a great match and made for a smooth and efficient closing process. We are very happy with this initial transaction between volofin and Zephyrus and look forward to a growing partnership between our companies.”

Jan Bockelmann of volofin, points out: “We are very happy to have closed this first of hopefully many financings for Zephyrus. Zephyrus’ investment approach and market views are very well aligned with volofin’s outlook and strategy; as a result, the structuring and documentation process was seemless. This transaction is a great fit for our lending portfolio.”

Vedder Price acted as lead counsel for volofin and Norton Rose Fulbright acted as lead acquisition counsel for Zephyrus

April
2022

volofin Capital Management Ltd. announces the financing for WNG Capital of one (1) Boeing 757-200F aircraft on lease to Icelandair and two (2) A321-200 aircraft on lease to Air Canada

 
 

volofin Capital Management Ltd. (volofin) has structured and arranged the financing for WNG Capital LLC (WNG) of one (1) B757-200 factory freighter on lease to Icelandair ehf and two (2) A321-200s on lease to Air Canada.

Stewart Tanner, Senior Managing Director for volofin, remarked, “These are our first transactions with WNG, and it was great to work with the whole WNG team to ensure the deals closed on time.  We hope it will be the start of a long term relationship, supporting them in their future growth strategy.”

Al Nigro, Managing Partner and Co-Founder of WNG, commented, “We are delighted to have worked with volofin to provide financing for these aircraft.  volofin’s agility and flexibility were impressive and instrumental to the closing process.  We look forward to working with them on future opportunities as WNG seeks to further expand its portfolio”

Milbank acted as lead counsel to volofin, and Vedder Price acted as acquisition lead counsel to WNG.

February 2022

volofin Capital Management Ltd. structures and underwrites a CF34-8C5 spare engine facility for Mesa Airlines, Inc.

 
 

London, UK: volofin Capital Management Ltd. (“volofin”) has completed the structuring and debt financing of a portfolio of twelve newly delivered CF34-8C5 spare engines for Mesa Airlines, Inc. (“Mesa“). The engines will support Mesa’s operational requirements over the next several years and ensure reliability and efficiency of Mesa’s aircraft fleet.

volofin Capital Management Ltd. acted as Structuring Agent and Arranger while volofin Holdings D.A.C. acted as Facility Agent and Security Trustee.

Torque Zubeck, Chief Financial Officer at Mesa, commented: “Mesa was extremely pleased with vololfin. They were responsive to our specific business needs as a large regional airline and were able to put the deal together quickly with great communication, coordination, and execution throughout the entire process.”

Jan Bockelmann, Director of volofin, added: “It was a great pleasure working together with the team at Mesa on this transaction. The entire financing process was very well-organized, and all milestones were hit on time. Mesa is a new client to volofin and we are very much looking forward to deepening the relationship with Mesa in the future as we continue to grow the business.”

August 2021

volofin announces the financing of a CFM56-5B engine portfolio acquisition for Rive Private Investment

 

volofin Capital Management Ltd. (“volofin”) has completed the structuring and financing of an engine portfolio facility for Rive Private Investment (“Rive“). Simultaneously, Rive closed the acquisition of the engines from BeauTech Power Systems (“BeauTech“). The engines are on long term operating leases to a leading European MRO.

Watson Farley & Williams (France) acted as acquisition and financing counsel to Rive and REN Legal (England) acted as lead counsel to volofin. Matheson (Ireland), Maples Group (Cayman Islands) and Todd & Levi, LLP (New York) advised on local law matters.

See Press Release for more info.

February 2021

volofin provides portfolio financing for Aero Capital Solutions

 

We are delighted to have worked with Aero Capital Solutions on the financing of a portfolio of aircraft on lease to easyJet.

The transaction is further testament to volofin Capital Management's commitment to a collaborative approach when delivering financing solutions for our borrower customers.

For more information please see the press release.

January 2021

volofin announces closing of P2F loan facility for KV Aviation

 
 

volofin Capital Management Ltd. (“volofin”) is pleased to announce the completion of a new P2F loan facility involving six 2006 vintage 737-800s for KV Aviation.  All six aircraft are subject to long term leases with a leading European cargo airline.

The transaction combines refinancing existing loans with the freight conversion and subsequent operation of each aircraft, and builds upon volofin’s experience of providing innovative and flexible financing solutions for global aircraft lessors, aviation investment firms and airlines.

KV Aviation, founded in 2009, with offices in Dublin, London, Singapore and Sydney, is a specialist in used narrowbody aircraft and engines and has completed over 100 transactions since inception, including the redeployment of assets to more than 30 different clients in over 20 countries. These 737-800BCF aircraft expand upon KV Aviation’s existing experience with narrowbody freighter conversions.

Vedder Price served as counsel for volofin and Allen & Overy LLP represented KV Aviation on this transaction. 

November 2020

volofin announces closing of term financing facility for Aero Capital Solutions

 
 

volofin Capital Management Ltd. (“volofin”) continues its growth and has successfully closed its ninth transaction.

volofin provided a long term loan to Texas based Aero Capital Solutions to assist with the financing of 9 (nine) A320 aircraft on long term leases to JetBlue Airways. volofin acted as the sole lender and arranger in the transaction.

November 2020

volofin announces closing of P2F bridge financing facility for Titan Aviation Investments Ltd.

 

volofin Capital Management Ltd. (“volofin”) has successfully closed a $200 million bridge financing facility for Titan Aviation Investments Ltd., a joint venture of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) subsidiary Titan Aviation Holdings, Inc. and Bain Capital Credit.  volofin provided a limited-recourse bridge facility that will provide debt capital to finance the purchase and conversion of passenger aircraft into freighter configuration.

Stewart Tanner, Senior Managing Director of volofin, remarked: “We were delighted to work with the teams at Atlas Air Worldwide and Titan Aviation Holdings on the $200m bridge facility to be provided by volofin. It is another significant milestone in volofin’s continued growth and a demonstration of the innovative and bespoke financing structures that we are able to provide to our customers. It was a pleasure to work with the Atlas and Titan teams on this transaction and we look forward supporting their business in the future.”

volofin acted as sole arranger and sole lender in the transaction.

October 2020

volofin announces closing of term financing facility for Aergo Capital

 
 

volofin Capital Management Ltd. (“volofin”) has successfully closed a financing for Aergo Capital involving an Airbus A321 aircraft.  volofin provided a limited-recourse loan to Dublin-based Aergo Capital to assist with the financing of an A321 on a long-term lease to British Airways PLC.

Stewart Tanner, Senior Managing Director of volofin, remarked: “It is great to be able to continue our long-standing relationship with Aergo and to support them in their growth strategy. This transaction underlines that, notwithstanding these unprecedented times, volofin is keen to support our customers during this challenging months ahead.”

volofin acted as sole arranger and sole lender in the transaction.

March 2020

volofin to attend ISTAT Americas conference in Austin

 
 

Members of the volofin Capital Management team will be in Austin from Sunday, 1 March 2020 to attend the ISTAT Americas conference and are looking forward to speaking to colleagues from across the aviation industry to discuss opportunities to work together.

If you are attending the event and would like to arrange a meeting, please contact:

Bob Peart (bob.peart@volofin.com), Stewart Tanner (stewart.tanner@volofin.com), Robert Jack (robert.jack@volofin.com), Jan Bockelmann (jan.bockelmann@volofin.com), or Nolan Heske (nolan.heske@volofin.com)

otherwise look out for our area in the Deal Zone.