As part of the PLB arrangement, the remaining two High Ridge Aviation GTF-powered Airbus A320neo jets for LATAM Airlines Group will be delivered in November and December 2023.
High Ridge Aviation has achieved a significant milestone by delivering the first of three Airbus A320neo aircraft to LATAM Airlines Group S.A. The delivery marks the beginning of a multiple aircraft purchase-leaseback (PLB) arrangement, highlighting the company’s pivotal role in supporting the fleet growth of Latin America’s largest airline. This strategic transaction showcases the deep commitment of High Ridge Aviation, a renowned player in the aviation industry, to bolster LATAM’s fleet with advanced and efficient aircraft.
The delivery of the first A320neo, bearing the manufacturer serial number (MSN) 11597, is a testament to the ongoing collaboration between High Ridge Aviation and LATAM Airlines Group. As part of the PLB arrangement, the remaining two GTF-powered Airbus A320neo aircraft are scheduled for delivery in November and December 2023.
“The entire team at High Ridge Aviation is pleased to be able to partner with LATAM on this transaction,” said Greg Conlon, CEO, High Ridge Aviation. “We’re thankful for the opportunity to support the fleet growth of Latin America’s largest airline,” he further added.
High Ridge Aviation’s successful partnership with LATAM Airlines Group is underpinned by its affiliation with PIMCO, a financial heavyweight with a vast and diverse investor base. High Ridge Aviation, along with its subsidiary LR AirFinance, leverages the financial strength and strategic platform of PIMCO to offer competitive financing and liquidity solutions to clients across the global commercial aviation sector.
High Ridge Aviation is responsible for a range of critical functions within these transactions, including sourcing, acting as servicer, and providing asset management services. The strategic collaboration with PIMCO expands the global investment giant’s presence in the aircraft leasing and financing markets, further solidifying its status as one of the world’s largest investors in aviation-backed debt.
“This delivery is part of a systematic effort that LATAM is undertaking to make its fleet more modern and efficient,” said Sebastián Acuto, Director of Fleet and Projects, LATAM Airlines Group. “This is fully aligned with our commitment to sustainability, as Airbus A320neo aircraft feature more efficient engines, aerodynamic improvements and technologies that provide a lower fuel consumption, with reduction in nitrogen oxide emissions at the same time,” he further added.
This strategic venture positions High Ridge Aviation and PIMCO-advised funds to acquire a wide spectrum of assets, from modern and fuel-efficient aircraft to attractive opportunities in cargo, mid-life assets, and engines. These assets are tailored to meet the diverse needs of global airlines, reflecting the companies’ commitment to enhancing the aviation industry’s efficiency, sustainability, and overall performance.
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In conclusion, the delivery of the first A320neo aircraft to LATAM Airlines Group represents a significant step forward in LATAM’s fleet modernization and sustainability efforts. It also underscores High Ridge Aviation’s pivotal role as a partner in the growth and transformation of Latin America’s premier airline. With a solid partnership between High Ridge Aviation, LATAM, and PIMCO, the aviation industry can anticipate further advancements and innovations in the near future.
