KKR and Altavair Close Sale and Leaseback of Four Airbus A350-900 Aircraft with Singapore Airlines

Rhea-AI Summary

KKR and Altavair L.P. announced the closing of a sale and leaseback agreement with Singapore Airlines for four Airbus A350-900 aircraft. The transaction, funded by KKR-managed accounts, enhances Altavair's portfolio. Steve Rimmer, Altavair's CEO, expressed pride in the partnership with Singapore Airlines, a highly regarded international carrier. KKR's partners noted this milestone strengthens their relationships with leading global carriers.

Positive

• Acquisition of four Airbus A350-900 aircraft enhances Altavair's asset portfolio.
• Strengthened partnership with Singapore Airlines, recognized as a leading international carrier.

Negative

• None.

KKR, a leading global investment firm, and Altavair L.P., a leader in commercial aviation finance, announced today the closing of a sale and leaseback with Singapore Airlines (SIA) of four Airbus A350-900 aircraft. The acquisition was funded by funds and accounts managed by KKR, with Altavair acting as servicer on the assets.

“We were honored to be selected by Singapore Airlines to participate in these transactions,” said Steve Rimmer, CEO of Altavair. “Singapore Airlines is continually recognized as one of the top international carriers and we are extremely pleased to be continuing our relationship with them with this new agreement.”

“This transaction with Singapore Airlines is another exciting milestone as we continue to deepen our trusted relationships with leading carriers around the world,” said Dan Pietrzak and Brandon Freiman, Partners at KKR. “These four modern aircraft operated by a world-class airline are a great addition to Altavair’s portfolio.”

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Altavair L.P.

Altavair L.P. is an asset manager focusing on the acquisition of new and used commercial aircraft for leasing to domestic and international passenger airlines and cargo operators. Since its inception in 2003, Altavair has completed over $9 billion in commercial aircraft lease transactions with over 60 airline customers in 28 countries representing over 200 individual Boeing and Airbus aircraft. Altavair maintains offices in Seattle, London, Dublin and Singapore. For more information, please visit www.altavair.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210503005694/en/

FAQ

What was announced by KKR and Altavair on the aircraft deal with Singapore Airlines?

KKR and Altavair announced the closing of a sale and leaseback agreement for four Airbus A350-900 aircraft with Singapore Airlines.

How does the deal with Singapore Airlines affect KKR?

The transaction enhances KKR's managed assets and strengthens its relationships with major international carriers.

When was the sale and leaseback of aircraft with Singapore Airlines completed?

The sale and leaseback agreement with Singapore Airlines was announced and completed as of today.

What type of aircraft is involved in the KKR and Altavair deal?

The deal involves four Airbus A350-900 aircraft.