AerSale

Last updated
AerSale, Inc.
Company type Public
Nasdaq:  ASLE
Industry Aviation
Aerospace & Defense
Foundedincorporated 2008
FoundersNicolas Finazzo & 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)
Number of employees
500+
Website www.aersale.com

AerSale, Inc. is a Doral, Florida-based [1] global supplier of aftermarket commercial jet aircraft, engines, used serviceable materials, and aeronautical engineering services to passenger and cargo airlines, government entities, leasing companies, multinational OEMs, and independent MROs. [2]

Contents

History

Founded in Coral Gables, Florida in 2008, AerSale employs approximately 500 people in 5 countries worldwide.[ citation needed ][ when? ]

A private equity firm and the two founders invested US$250 million in equity in January 2010. [3] [4]

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. [5] It supplied low-cost, used, serviceable turbine blades to the Department of Defense for use on the Air Force's KC-135 Stratotanker aircraft, enabling the government to save US$36 million. [6]

Lines of business

AerSale operates three integrated lines of business: Aircraft & Engine Leasing; Material Sales; and Maintenance, Repair & Overhaul (MRO).

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. These aircraft are powered by a variety of engines, including the CFM International CFM56, General Electric CF6-80C2, International Aero Engines V2500, Pratt & Whitney PW4000 and Rolls-Royce RB211.[ citation needed ]

The company is an aftermarket seller of original equipment manufacturer (OEM) used serviceable material. This material comes from aircraft which have been dismantled and their parts recycled and refurbished for commercial use. Recycling of aircraft for their component parts has become a significant source of used serviceable material to the airline industry, as about 12,500 aircraft will reach their end of life over the next 25 years. [7] [ relevant? ] AerSale is a member of Aircraft Fleet Recycling Association, a not-for-profit industry group whose members maintain an environmentally friendly standard for aircraft recycling. [8]

AerSale's heavy airframe MRO business is performed primarily at its two FAA-approved Certified Repair Stations located at the Roswell International Air Center, Roswell, New Mexico and the Phoenix Goodyear Airport in Phoenix, Arizona.[ 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]

In July 2015, AerSale acquired Aero Mechanical Industries, Inc., located in Rio Rancho, New Mexico, to expand its component overhaul services to include aero structures. [10]

Douglas DC-8 over Mint Canyon-California.jpg
Japan Airlines B747-446 (JA8914) in JAL's 2002 livery.jpg
HZ-APF landing in Geneva Airport.jpg

Certifications

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. [11]

On June 14, 2011, AerSale was certified by the Aircraft Fleet Recycling Association for maintaining "best management practices for disassembly of aircraft, powerplants, and other aerospace materials". [12]

On February 24, 2014, it received a U.S. Approval Certificate from the European Aviation Safety Agency ("EASA"). [13]

In December 2023, the FAA approved the AerAware headset device SKYLENS as part of a enhanced flight vision system. This mixed reality headset allows transport pilots better situational awareness, particularly in low visibility situations. [14] [15]

Acquisitions

AerSale's first acquisition came in 2009 when it acquired 44 McDonnell Douglas DC-8-70 series aircraft from a major international logistics company. [16] [ which? ] The McDonnell Douglas DC-8-70 series aircraft is powered by the CFM56/F108 aircraft engine, variants of which power most of the world's airliners.[ citation needed ]

In May 2010, AerSale acquired the assets of Great Southwest Aviation located at the Roswell International Air Center in Roswell, New Mexico. [17] [18] In late 2010, AerSale acquired 19 Boeing 747-400 aircraft from Japan Airlines, representing two-thirds of the JAL fleet of 747-400s. [19]

In 2012, AerSale acquired 25 of Saudi Airlines' McDonnell Douglas MD-90 aircraft. [20] All of these aircraft have been dismantled in Roswell and recycled for their engines and component parts.[ citation needed ]

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. AMI is a global provider of maintenance, repair and overhaul (MRO) of both metallic and composite airframe components and accessories including nacelles, inlet cowls, thrust reversers, and primary/secondary flight controls. [21]

In 2018, AMI was rebranded AerSale Component Solutions. [22] [23]

In November 2018, AerSale acquired Avborne, located in Miami, Florida, further expanding its component MRO platform to include overhaul capability for hydraulic, pneumatic, electrical, landing gear and other aircraft components. [24] [25] [26]

In June 2019, AerSale acquired airframe parts specialist Qwest Air Parts to add scale to its offering of airframe used serviceable material (USM). [27]

AerSale Corp. and Monocle Acquisition Corporation announced their merger in December 2019, with an implied enterprise value of about $430 million. The deal was revised in September 2020, with a lower value of about $300 million. The combined company, named AerSale Corporation, began trading on Nasdaq under the ticker symbol “ASLE” in December 2020. [28] [29] [30]

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References

  1. 1 2 Julia Echikson (January 22, 2024). "AerSale Inks 36K-SF Deal to Move HQ to Doral". Commercial Observer.
  2. ↑ "Global Aviation Aftermarket Service Company | AerSale". www.aersale.com (in Spanish). Retrieved 2023-04-10.
  3. ↑ "Leonard Green Backs AerSale". The Middle Market. Retrieved 26 December 2014.
  4. ↑ "AerSale Holdings, Inc. Completes $250 Million Equity Raise With Leonard Green & Partners, L.P." (Press release). PRNewswire. Retrieved 26 December 2014.
  5. ↑ "Government Study - Federal Industry Leaders 2012" (PDF). Bloomberg. Archived from the original (PDF) on 2014-12-26. Retrieved 24 December 2014.
  6. ↑ "New fan blade contract saves Air Force millions". Air Force Materiel Command. Retrieved 2023-04-10.
  7. ↑ ""Aircraft Recycling Best Practice and the Role of AFRA", Aircraft Technology Engineering & Maintenance, October 2009" (PDF). Archived from the original (PDF) on 2016-03-03. Retrieved 2014-12-26.
  8. ↑ AFRA Membership Directory Archived December 26, 2014, at the Wayback Machine
  9. ↑ "NASA's DC-8 Flying Laroratory to Undergo Major Maintenance". NASA News. Retrieved 26 December 2014.
  10. ↑ "Rio Rancho's Aero Mechanical Acquired by Florida Company," Bizjournals, July 16, 2015
  11. ↑ "Aviation Suppliers Association Member Directory"
  12. ↑ "AerSale AFRA Certificate" (PDF). AFRA. Retrieved 31 December 2014.[ permanent dead link ]
  13. ↑ "AerSale Wins EASA Certification", Official Airline Guide, March 31, 2014 Archived December 26, 2014, at the Wayback Machine
  14. ↑ "FAA Approves AerSale Mixed Reality Headset Allowing 737 Pilots To 'See' Through Clouds". AV Geekery. December 28, 2023.
  15. ↑ "Supplemental Type Certificate" (PDF). United States of America Department of Transportation Federal Aviation Administration. December 6, 2023.
  16. ↑ "UPS DC-8s Bought?", Airliner World, February 5, 2010
  17. ↑ "AerSale Acquires Roswell's Great Southwest Aviation", Bizjournals, June 2, 2010
  18. ↑ "Governor Richardson Announces AerSale, Inc. Expands in New Mexico", Albuquerque Journal, June 3, 2010
  19. ↑ "JAL Sells Its Last 19 Boeing 747-400s to AerSale", World Airline News, October 10, 2010
  20. ↑ "AerSale Buying 25 of Saudi Arabians MD-90s", Flight Global, April 12, 2012
  21. ↑ "AerSale Completes Acquisition of Aero Mechanical industries (AMI)", Global Newswire, July 2, 2015
  22. ↑ "Aero Mechanical Industries Rebrands as AerSale Component Solutions", Business Wire, April 5, 2018
  23. ↑ "Aero Mechanical Industries re-brands as AerSale Component Solutions". AviTrader. April 8, 2018.
  24. ↑ "AerSale Dives Deeper Into Component Repair", MRO Network.com, November 29, 2018
  25. ↑ "AerSale Acquires Avborne", MRO Business Today, November 30, 2018
  26. ↑ "AerSale Acquires Avborne to Expand MRO Capabilities", Airline Economics, December 4, 2018
  27. ↑ "AerSale Acquires Qwest Air Parts", Yahoo Finance, June 25, 2019
  28. ↑ "Monocle Acquisition and AerSale Announce Business Combination". www.prnewswire.com. PR news wire. Retrieved 29 December 2023.
  29. ↑ "AerSale Corp. and Monocle Acquisition Corporation Announce Closing of Business Combination". www.aersale.com (in Spanish). Retrieved 29 December 2023.
  30. ↑ "Monocle Acquisition and AerSale Announce Revised Merger Agreement". AerSale Corporation. 8 September 2020.

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