Hong Kong Aviation Capital Appoints Richard Cherney as Head of Commercial and Technical

HONG KONG, Aug. 24 /PRNewswire/ -- Hong Kong Aviation Capital (HKAC), a leading investor in global aviation finance, announced today that Richard Cherney has been appointed as Head of Commercial and Technical. Richard has commenced his employment with HKAC and is based in the company's Hong Kong office. He is a member of the senior executive committee and responsible for global leasing activities and technical management. He comes to HKAC from his position as Executive Vice-President of Aviation Capital Group (ACG), a commercial aircraft leasing and asset management company based in California.

In his position at ACG, Richard was responsible for the sales and marketing as well as the asset management functions, overseeing a fleet of more than 400 owned, managed and ordered aircraft. Before joining ACG, Richard was Managing Director, Fleet Transactions at American Airlines where he led the group responsible for developing more than $10 billion of aircraft acquisition and disposal strategies. Prior to this, he held senior positions with two Canadian airlines, and also has pilot accreditation from both the United States and Canada.

"With the addition of Richard we are fulfilling our promise to strengthen and build upon our existing management team.  Our strong team has helped us attract key people. Richard brings with him great leadership qualities and aviation experience that will prove invaluable to HKAC, and our plans for further global expansion," said Mathis Shinnick, Chief Executive Officer, Hong Kong Aviation Capital.

Shinnick continued: "Rich's 21 years of experience in aviation, as both a pilot and businessman, is a winning combination that will help us to achieve both our short and long term business goals."

HKAC is a diversified player in the global aviation finance industry that includes HNA Group Co. Ltd of China and an affiliate of Bravia Capital, New York as shareholders. The appointment of Mr. Cherney closely follows the appointment of Rick Macker as Head of Capital Markets, and the company's recent announcement of signing three new A320 aircraft under sale-leaseback to Indian airline IndiGo. HKAC completed its acquisition of Allco Aviation platform in January 2010, and plans to further expand its employee presence globally over the next 12 months.

About Hong Kong Aviation Capital

Hong Kong Aviation Capital (HKAC) is a leader in the global aircraft leasing marketplace. HKAC is headquartered out of Hong Kong, with offices in Sydney and London. The firm invests in commercial aircraft leases and financial instruments, and also provides aircraft management and advisory services. HKAC's mission is to prudently invest in the global transportation and infrastructure sectors for consistent and long-term returns, creating value for its investors and clients alike. HKAC has a highly capable team with skills and experience in both the financial and aviation industry. The company's website can be found at www.hongkongaviation.com

SOURCE Hong Kong Aviation Capital (HKAC)