Sky Fund I, LP has signed a legally binding agreement to sell Sky Fund I Irish, Ltd. (“SKY Fund I”) and its subsidiaries to Dubai Aerospace Enterprise, according to SKY Leasing (“SKY”), an aviation investment company (“DAE”).

The 36 owned and committed aircraft in the SKY Fund I portfolio are being leased by 14 different airlines around the world. More than 90% of the portfolio’s aircraft are next-generation models.

“The high level of interest in this portfolio is evidence of the success of SKY’s plan to finance aircraft fleet renewal projects. We are excited to formally ratify this agreement, which will acknowledge the value we have accrued for our institutional investors. We are still committed to expanding our company through new investment vehicles “said Austin Wiley, SKY Leasing’s CEO.

Milbank and PWC provided SKY Leasing with advice.

Source: Prnewswire