AerFin Ltd continues expansion with acquisition of Airline Services Components Ltd

AerFin Ltd (UK) announces the acquisition of the trade and assets of Airline Services Components (ASC) Limited, a leading commercial aircraft rotable component business based at London Gatwick Airport.

ASC Management team and staff will transfer to AerFin, enhancing the company’s airframe parts distribution and routes to market for Boeing and Airbus components, including recent acquisitions of A320, A330 and A340.

The strategic acquisition will see AerFin acquire a dedicated aircraft component distribution centre, strategically located near London Gatwick Airport, providing 24/7 AOG support, sale, exchanges and power-by-the-hour support agreements across all major commercial airframe platforms.

AerFin CEO, Bob James said, “This strategic acquisition brings full airframe component support capability through ASC’s highly experienced management team, and a Gatwick Airport-based operation allowing AerFin to provide complete aircraft nose-to-tail support, with a 24/7 AOG desk, accessible to all of our customers worldwide”.

Mike Humphreys, CEO of Airline Services said, “This transaction will enable us to focus on the strategic development of our newly rebranded core businesses of Airline Services Interiors, launched at this year’s Aircraft Interiors Expo in Hamburg, and Airline Services Handling, where we are firmly established as a leading provider of aircraft de-icing, presentation and handling at airports across the UK”.

ASC was established in 2006 by the current management team who have considerable experience in the aviation industry, including airline management and operations, component support services and MRO activities. Under the terms of the agreement, the management and ongoing business of ASC will be transferred to AerFin. Specialising in the supply and management of airframe rotable components for the commercial aviation market, and operating from 30,000 sq. ft. storage and distribution facility at London Gatwick Airport, ASC has established aircraft flight-hour agreements supporting the B787 and B737 platforms and maintains component inventory at various strategic hubs around the world.

Aerfin Ltd and Airline Services will work closely together over the coming months to ensure a smooth transfer of activities and a seamless transition for ASC’s customers, suppliers and other key stakeholders.

About AerFin Limited

UK-based AerFin Limited specialises in providing end-of-life fleet solutions for investors, MROs, and airlines. Since its inception AerFin has experienced extensive growth in asset trading, aircraft and engine acquisitions, supply chain solutions and MRO service programmes. AerFin offers customised asset management solutions that substantially reduce the overall cost of ownership for aircraft and engine owners. US-based CarVal Investors LLC took an 80% shareholding in AerFin in December 2014. CarVal Investors’ experienced team has navigated ever-changing credit market cycles, investing more than USD $83 billion in 5,300 transactions across 71 countries.

About Airline Services

Airline Services has been delivering aviation support to airlines and aircraft leasing companies for over 30 years. Following investment by Lloyds Development Capital (LDC), part of Lloyds Banking Group plc, Airline Services has taken the decision to focus on profitably growing two core businesses; Airline Services Handling and Airline Services Interiors. In both these areas the company is delivering real competitive advantage and is firmly established with long-term, diverse and global customer relationships as a basis for future growth.

Operating at 11 airports across the UK with nearly 800 employees, Airline Services Handling provides de-icing and aircraft presentation services to over 50 customers, and recently started ground handling activities at Gatwick serving customers such as Monarch Airlines, Germania and Turkish Airlines.

Airline Services Interiors provides mid-life aircraft cabin interior solutions to airlines and lessors globally, covering the provision of engineered cabin products and ongoing maintenance and repair packages, through to totally managed design and manufacture solutions for major refurbishment programs, such as the recently-awarded British Airways Boeing 747 refurbishment programme.