AE Industrial Partners, a private equity firm specializing in aerospace, defense and government services, power generation, and specialty industrial markets, completed a sale and leaseback transaction with Allegiant Air involving four Airbus A319 aircraft. The transaction is the firm’s first aircraft leasing transaction made from its AE Industrial Partners aerospace opportunities fund, an aircraft and engine leasing investment platform launched earlier this year. Terms of the transaction were not disclosed.

“We are excited to embark on this partnership with Allegiant and to complete the first aircraft leasing transaction for our AE Industrial Partners aerospace opportunities fund,” Mark Satran, senior managing director at AE Industrial Partners, said. “We believe that Allegiant, with its low-cost, domestic leisure business model, is well-positioned for a strong return in 2021 as travelers look to reunite with family and friends. The workhorse nature of the A320 family aircraft is a great fit for our investors, and we’re impressed by what Allegiant’s management has rapidly accomplished during these turbulent times for the aviation industry.”

“The investment from AEI will provide Allegiant with greater flexibility as we address an unprecedented time in the industry. We were happy with the results of this transaction and look forward to an ongoing collaboration,” Robert Neal, treasurer and vice president of fleet and corporate finance at Allegiant, said.