Expect AJ Walter Aviation to purchase more Next-Gen aircraft and engines with the $125 million credit facility it just secured from CIT Aerospace & Defense Finance.
Tearing down young aircraft “is a cost-effective way to get the next-gen parts” customers need, says Ian Malin, AJ Walter’s treasure and chief investment officer.
He tells Aviation Week that he sees buying opportunities in the market and will use the $125 million credit to replenish its inventory stocked around the world.
Malin would not disclose which specific aircraft or engines are his first acquisition candidates, other than they most likely will be for Next-Genand models.
Malin says the money serves two purposes: to enable the inventory supply and management company to purchase more spares so it can support operators with bigger fleets, as well as give those customers confidence that AJ Walter can support them through long-term contracts. The confidence is a two-way street.
In September, AJ Walter purchased the component repair business from defunct Aveos Fleet Performance in Canada. It is rebuilding Aveos’ workshop capabilities and plans to open the repair facility in Montreal in 2013.