Ashland Place Finance LLC (“Ashland Place“), a commercial aviation financing platform, and Crestone Air Partners, Inc. (“Crestone“), a full-service aviation asset management platform, today announced the closing of an engine facility financing four CFM56 engines on lease to Cebu Air, Inc. (Philippines) and TUI Airways Limited (UK).
“We are pleased to welcome Crestone as a new member of our commercial aviation financing platform,” said Jennifer Villa, Ashland Place’s Executive Director and Group Head.
“One of our market differentiators has been our ability to drive successful outcomes for a wide range of aviation sector companies, and we look forward to continuing this trend with Crestone.”
“At Crestone, we are proud of our partnerships across the aviation landscape, and we have certainly found another great partner in Ashland Place,” said Kevin Milligan, Principal, Head of Investments at Crestone.
“We are excited to have closed this latest transaction with Ashland Place and value the business’s support as we continue to grow our business and maximize value for our customers.”
Allen & Overy LLP served as legal counsel for Ashland Place, while Vedder Price LLP served as legal counsel for Crestone in this transaction.