Innovative engine leasing & trading and aircraft component & part-out specialist, APOC Aviation, has purchased a V2527-A5 engine from AerSale. The engine is now leased out to Turkish low-cost carrier, Onur Air, for the duration of its remaining green-time. This is anticipated to be 36 months and it will be installed on various A320 family aircraft within the Onur Air fleet.This is the first engine deal that APOC has completed with AerSale and it was counter-balanced with AerSale’s own purchase of a significant package of spare parts from APOC.
According to Anca Mihalache, VP Engine Trading – APOC Aviation, sourcing this engine type was a perfect fit for APOC’s expanding asset portfolio. “We have a close network of airline customers with whom we are developing discreet lease agreements for older engine assets. The V2527-A5, alongside the CFM56-3/5a/5b/-7b engine variants are in high demand. With the delivery delays and groundings of new aircraft we are currently seeing postponed shop visits and reduced tear-down activity for mature engines which is testament to their reliability and on-going marketability.”
“Onur Air operates owned A320/A321 airframes with green-time leased engines until the end of serviceable life and we are happy to sign our first engine lease agreement with APOC. We are very keen to increase our portfolio of green-time leased engines in the future thus aligning both APOC’s aircraft teardown projects and Onur Air’s operational requirements perfectly.” Atac Oruc – Onur Air Asset Manager/Powerplant.
Currently APOC has offices/warehouses located in the Netherlands, Lithuania, Florida and Colombia. Extra warehouses/offices in the USA, Hong Kong and Singapore are on target for 2020/21 to complement planned strategic spares hubs in mainland China. This expanding global presence is expected to see annual revenues at APOC Aviation reach $100 million by 2022.
With demand expected to grow as more engines are removed for maintenance in the coming year and beyond, APOC Aviation is on-track for fast expansion into the leasing of engines, aircraft, landing gears and APUs. The Company’s best-in-class IT platform ensures that assets are priced with absolute accuracy driven by a leasing and stock management/revenue optimisation strategy.
“APOC’s objective is to lease engines that are ready to fly supported by our comprehensive stock of parts” adds Mihalache. “Minimised downtime equates to flight dispatch certainty and every airline wants that.”