Turning Rock Partners has completed an asset-backed financing transaction with AerFin covering three Airbus A220 aircraft, marking the second aviation financing deal between the two companies.
The aircraft will initially remain in commercial service before transitioning into AerFin’s aftermarket programme. As part of the planned asset strategy, the aircraft engines will be placed on long-term leases, while the airframes will be dismantled to recover used serviceable material.
AerFin will manage the aircraft teardowns, maintenance activities and subsequent distribution of recovered components through its global aftermarket network. The company has been expanding its inventory of used A220 material as the type’s installed fleet grows and operators look for additional sources of replacement parts.
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The latest transaction builds on the existing financing relationship between New York-based Turning Rock Partners and AerFin, combining asset-backed funding with AerFin’s expertise in aircraft and engine asset management.
Investec Aviation Finance provided the debt financing for the transaction. Holland & Knight, Matheson and Stream Avocats & Solicitors Paris served as legal advisers, while Shannon Technical Services conducted collateral assessments along with technical and physical inspections.
The deal highlights growing investor interest in the aftermarket potential of the Airbus A220 as the global fleet continues to expand and demand for cost-effective used serviceable material increases.
