Castlelake Provides Financing to Turkish Airlines
MINNEAPOLIS, July 9, 2021 /PRNewswire/ -- Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 15 years of tenure financing and managing aviation assets, today announced it has provided a loan package to Turkish Airlines, secured by three new Boeing 737 MAX 8 aircraft and one new 737 MAX 9 aircraft.
"We're pleased to be able to support Turkish Airlines, one of world's largest airlines, as it continues to enhance its fleet capabilities with advanced, efficient aircraft," said Armin Rothauser, Partner at Castlelake and head of the firm's lending strategy. "This financing is an example of the tailored solutions we are well positioned to provide to aircraft owners, enabling them to effectively achieve their fleet modernization goals. We look forward to continuing to support the airlines and the broader aviation ecosystem as the sector recovers."
"This transaction with Castlelake allows us to optimally finance some of our newest, most in-demand aircraft and in doing so, execute on our strategic objectives," said Ayşegül Denli, Turkish Airlines' Senior Vice President Finance of Turkish Airlines. "This is especially vital during this exciting time as international leisure and business travel recovers and we look forward to welcoming many passengers as they return to the skies."
This transaction is the latest in Castlelake's growing Aviation Lending Program, which has committed $2.1 billion across multiple transactions since its launch last year. The program draws on Castlelake's deep aviation investment experience across market cycles and the differentiated expertise of its more than 60 dedicated professionals to provide compelling, bespoke capital solutions to aviation industry participants. In addition to lending transactions with carriers, leasing companies and other industry participants, Castlelake began a partnership with Boeing and its subsidiary Boeing Capital Corporation in December 2020 to provide delivery financing solutions to commercial aircraft customers for new commercial aircraft deliveries.
About Castlelake
Castlelake, L.P. is a global alternative investment manager focused on opportunistic investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $20 billion of assets on behalf of its investors. The Castlelake team comprises more than 200 experienced professionals, including 89 investment professionals, across six offices in North America, Europe and Asia. For more information, please visit www.castlelake.com.
About Turkish Airlines
Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 362 (passenger and cargo) aircraft flying to 325 worldwide destinations as 273 international and 52 domestic, in 127 countries as of 31 March 2021. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, Twitter, YouTube, LinkedIn, and Instagram.
Contact
Castlelake Media Relations
Molly Blemker
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+1 612 851 3083
Prosek Partners for Castlelake
David Wells / Josh Clarkson / Mariel Seidman-Gati
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+1 212 279 3115
SOURCE Castlelake
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