Sky Announces A320 Sale/Leaseback With Avianca

SAN FRANCISCO, Feb. 9 /PRNewswire/ -- Sky Holding Company, LLC is pleased to announce the delivery of one Airbus A320-214 to Aerovias del Continente Americano S.A. ("Avianca"), Colombia's leading airline.  This transaction represents a continuation of Sky's long relationship with Avianca and the first sale/leaseback transaction of Sky's new fleet, which is being built in partnership with Oaktree Capital.

"We are thrilled to be able to execute another transaction with Avianca, which is one of Latin America's strongest carriers and has been a great partner with our firm for a long time," said Richard Wiley, Sky's founder and CEO.  "We emphasize new, fuel-efficient aircraft on lease to leading airlines around the world.  We have ambitious growth plans over the next couple of years, and with $500 million in support from Oaktree Capital this is the first of many such transactions for us."

"Avianca is pleased to have received its thirteenth Airbus A320, as a result of a sale and lease back transaction with Sky. With this new aircraft the airline will continue to provide its high quality service based on comfort and efficiency in its routes in Colombia, the Americas and Europe" said Gerardo Grajales, CFO for Avianca.  

About Sky Holding Company, LLC:  Sky is a full-service aircraft leasing company based in San Francisco with offices in Seattle, Miami, and Buenos Aires, with a European office opening in 2010.  The management team, which had previously worked together at Pegasus Aviation, has over 90 years of combined industry experience.  The team has collectively acquired over $10 billion of aircraft, has purchased and/or remarketed over 400 aircraft, and has developed relationships with over 30 commercial lenders and investment banks across Europe, Asia and North America.  Sky is equity funded by its management team and Oaktree Capital Management, L.P., a premier global alternative and non-traditional investment manager with over US$70 billion in assets under management.

About Avianca:  Avianca was the first airline founded in the Americas.  Along with Ocean Air, in Brazil; and Vip S.A., in Ecuador, it is part of the Synergy Aerospace Group.  With more than six thousand direct collaborators, and a fleet of 60 short, medium and long range aircraft, Avianca currently operates directly to 21 destinations in Colombia and 22 points in America and Europe.  From its hub in Bogota, the company offers an average of 350 flights per day connecting its domestic and international destinations. Passengers have more than 6,000 options for connections between destinations operated both directly and through code share agreements with other internationally renowned companies.  In addition to its passenger air transport services, Avianca provides tourism, mail, cargo, and courier transport services, as well as aeronautical assistance services, through its Business Units: Avianca Tours, Deprisa and Avianca Services. For additional information, please visit www.avianca.com.

www.skyholding.aero

SOURCE Sky Holding Company, LLC