AerSale
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| Company type | Public |
|---|---|
| Nasdaq: ASLE | |
| Industry | Aviation Aerospace and defense |
| Founded | 2008 |
| Founders | Nicolas Finazzo and Robert B. Nichols |
| Headquarters | Doral, Florida, U.S.[1] |
Area served | Worldwide |
Key people | Nicolas Finazzo (Chairman & CEO) Robert B. Nichols (Vice Chairman) Martin Garmendia (CFO) Basil Barimo (President-MRO Services) Craig Wright (President-Aircraft & Engine Management) Iso Nezaj (President-Engineered Solutions, CTO) Gary Jones (President-Materials Group) Enrique Pizzi (CIO) |
| Website | www.aersale.com |
AerSale, Inc. is a Doral, Florida-based[1] global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs.[2] AerSale is a member of the Aircraft Fleet Recycling Association.[3]
History
[edit]The company was founded in Coral Gables, Florida, in 2008. The two founders invested US$250 million in equity in January 2010.[4][5]
In July 2010, AerSale delivered a specially modified Boeing 737-400 aircraft to the National Nuclear Security Administration to fly depleted nuclear waste to disposal sites.[6] It supplied low-cost, used turbine blades to the Department of Defense for use on the Air Force's KC-135 Stratotanker aircraft; it saved the government US$36 million.[7]
Lines of business
[edit]AerSale operates three integrated lines of business: Aircraft & Engine Leasing; Material Sales; and Maintenance, Repair & Overhaul (MRO). The company is an aftermarket seller of original equipment manufacturers (OEM) used serviceable material.[8]
AerSale sells and leases engines and aircraft, both commercial passenger and cargo aircraft. It has purchased Boeing 737-300, Boeing 737-400, Boeing 737-500, Boeing 747-400, Boeing 757-200, and Boeing 767-300 passenger and freighter aircraft; Airbus A300-600R, Airbus A310-200, Airbus A320-200, and Airbus A330-300 passenger aircraft; and McDonnell Douglas MD-90 passenger and McDonnell Douglas DC-8-70 series freighter aircraft.[citation needed]
In November 2013, it completed a major maintenance check for NASA on its flying laboratory, a specially modified McDonnell Douglas DC-8-70 series aircraft.[9]
Certifications
[edit]On March 12, 2010, the Aviation Suppliers Association certified AerSale's quality system to meet the requirements of ASA-100 and FAA Advisory Circular 00-56A.[10] On June 14, 2011, AerSale was certified by the Aircraft Fleet Recycling Association.[11] On February 24, 2014, it received a U.S. Approval Certificate from the European Aviation Safety Agency (EASA).[12]
In December 2023, the FAA approved the AerAware headset device SKYLENS as part of a enhanced flight vision system.[13][14]
Acquisitions
[edit]AerSale's first acquisition came in 2009 when it acquired 44 McDonnell Douglas DC-8-70 series aircraft from a major international logistics company.[15][which?]
In May 2010, AerSale acquired the assets of Great Southwest Aviation located at the Roswell International Air Center in Roswell, New Mexico.[16][17] In late 2010, AerSale acquired 19 Boeing 747-400 aircraft from Japan Airlines, representing two-thirds of the JAL fleet of 747-400s.[18] In 2012, AerSale acquired 25 of Saudi Airlines's McDonnell Douglas MD-90 aircraft.[19] In July 2015, AerSale acquired Aero Mechanical Industries, Inc. (AMI), located in Rio Rancho, New Mexico, to expand its component overhaul services to include aero structures.[20] In 2018, AMI was rebranded AerSale Component Solutions.[21][22]
In November 2018, AerSale acquired Avborne, located in Miami, Florida, to include overhaul capability for hydraulic, pneumatic, and landing gear.[23][24][25] In June 2019, AerSale acquired airframe parts specialist Qwest Air Parts to add scale to its offering of airframe used serviceable material.[26]
AerSale Corp. and Monocle Acquisition Corporation announced their merger in December 2019, with an implied enterprise value of about US$430 million. The deal was revised in September 2020, with a lower value of about US$300 million. The combined company, named AerSale Corporation, began trading on Nasdaq under the ticker symbol "ASLE" in December 2020.[27][28]
References
[edit]- ^ a b Julia Echikson (January 22, 2024). "AerSale Inks 36K-SF Deal to Move HQ to Doral". Commercial Observer.
- ^ "Global Aviation Aftermarket Service Company | AerSale". www.aersale.com (in Spanish). Retrieved April 10, 2023.
- ^ AFRA Membership Directory Archived December 26, 2014, at the Wayback Machine
- ^ "Leonard Green Backs AerSale". The Middle Market. Retrieved December 26, 2014.
- ^ "AerSale Holdings, Inc. Completes $250 Million Equity Raise With Leonard Green & Partners, L.P." (Press release). PRNewswire. Retrieved December 26, 2014.
- ^ "Government Study - Federal Industry Leaders 2012" (PDF). Bloomberg. Archived from the original (PDF) on December 26, 2014. Retrieved December 24, 2014.
- ^ "New fan blade contract saves Air Force millions". Air Force Materiel Command. Retrieved April 10, 2023.
- ^ ""Aircraft Recycling Best Practice and the Role of AFRA", Aircraft Technology Engineering & Maintenance, October 2009" (PDF). Archived from the original (PDF) on March 3, 2016. Retrieved December 26, 2014.
- ^ "NASA's DC-8 Flying Laroratory to Undergo Major Maintenance". NASA News. Retrieved December 26, 2014.
- ^ "Member Directory". Aviation Suppliers Association. Retrieved August 2, 2024.
- ^ "AerSale AFRA Certificate" (PDF). AFRA. Retrieved December 31, 2014.[permanent dead link]
- ^ "AerSale Wins EASA Certification", Official Airline Guide, March 31, 2014. Archived December 26, 2014, at the Wayback Machine.
- ^ "FAA Approves AerSale Mixed Reality Headset Allowing 737 Pilots To 'See' Through Clouds". AV Geekery. December 28, 2023.
- ^ "Supplemental Type Certificate" (PDF). United States of America Department of Transportation Federal Aviation Administration. December 6, 2023.
- ^ "UPS DC-8s Bought?", Airliner World, February 5, 2010
- ^ "AerSale Acquires Roswell's Great Southwest Aviation", Bizjournals, June 2, 2010
- ^ "Governor Richardson Announces AerSale, Inc. Expands in New Mexico", Albuquerque Journal, June 3, 2010
- ^ "JAL Sells Its Last 19 Boeing 747-400s to AerSale", World Airline News, October 10, 2010
- ^ "AerSale buying 25 of Saudi Arabian's MD-90s". Flight Global. Retrieved August 2, 2024.
- ^ "AerSale Completes Acquisition of Aero Mechanical industries (AMI)", Global Newswire, July 2, 2015
- ^ "Aero Mechanical Industries Rebrands as AerSale Component Solutions", Business Wire, April 5, 2018
- ^ "Aero Mechanical Industries re-brands as AerSale Component Solutions". AviTrader. April 8, 2018.
- ^ "AerSale Dives Deeper Into Component Repair", MRO Network.com, November 29, 2018
- ^ "AerSale Acquires Avborne", MRO Business Today, November 30, 2018
- ^ "AerSale Acquires Avborne to Expand MRO Capabilities", Airline Economics, December 4, 2018
- ^ "AerSale Acquires Qwest Air Parts", Yahoo Finance, June 25, 2019
- ^ "Monocle Acquisition and AerSale Announce Business Combination". www.prnewswire.com. PR Newswire. December 9, 2019. Retrieved December 29, 2023.
- ^ "Monocle Acquisition and AerSale Announce Revised Merger Agreement". AerSale Corporation. September 8, 2020.