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AIP Capital takes 10% stake in Korea's Eastar Jet

Aviation asset management and investment firm AIP Capital has taken a stake in Eastar Jet (ZE, Seoul Gimpo) in a limited partnership deal with VIG Partners, the South Korean private equity entity that acquired 100% of the low-cost carrier earlier this year. The dollar value of the transaction, announced on September 5, was not disclosed. However, an AIP spokesperson told ch-aviation they had secured a 10% stake.

As part of the deal, AIP will place five B737-8s at Eastar Jet. Two of those planes, HL8542 (msn 44304) and HL8543 (msn 44305) arrived at Eastar Jet in August, while the third, N798BA (msn 44308), will be delivered to the airline in September, with the final two in the third quarter of 2024. 777 Partners owns AIP Capital. It also recently acquired a 30% stake in Dreamstone Aviation Partners, a subsidiary of Dreamstone Partners, to expand its business in the Asia Pacific region. Founded earlier this year, AIP Capital says it has USD10 billion of capital deployed across debt and equity in the aviation...

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