the last pop was from this 8k j/v for lease buy backs on planes and buying decommissioned planes to sell for parts....could be a gold mine with all the idle planes out there right now....
Potential Aircraft Equity Vehicle and Management Business. The Company announced on December 23, 2020 that it expects in January 2021 to complete the transactions necessary to form a potential approximately $108,000,000 equity vehicle (“CFII”) and management business (“Contrail Asset Management”). The new business and joint venture are being formed to purchase and sell aircraft and engines to be relet or disassembled and sold for parts. The parties anticipate that CFII will be capitalized initially with approximately $108,000,000 in equity capital and that it will establish a portfolio of aircraft assets, focusing on whole aircraft and engine acquisitions, sale-leaseback transactions and end of life part-out solutions. The new business and equity joint venture is expected to be funded principally by three investment partners and the Company. The Company expects that the manager of the venture will be ninety (90%) owned by the Company and that the Company will invest approximately $8,000,000 in the venture. The capital contributed by the investors -- presently anticipated to be approximately $100,000,000 -- will be contributed into CFII.
The business and joint venture transactions are not yet complete, and the equity capital has not yet been committed. In addition, the contemplated business and joint venture are subject to numerous other conditions and terms customary for transactions of this kind, including further due diligence review. While the parties project a commencement date in January 2021, such commencement may occur after this date and there is no assurance at this time that the formation of the business and joint venture, and commencement of operations, will occur.
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