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NEW YORK/SEATTLE: January 03, 2019. US venture capital firm KKR is to acquire Atlas Air MIAa 50 percent stake in aviation financing company Altavair and invest US$1 billion to establish a presence in the global commercial aircraft leasing market.

KKR will launch its partnership with Altavair with the acquisition of six cargo aircraft.

“Since our first investment in aircraft in 2015, we’ve recognized the increasing demand for both passenger and freighter aircraft,” said Dan Pietrzak, a member of KKR. “The decades-long proven track record that Altavair brings to this partnership is impressive and it is exactly the kind of company we were looking for when we sought out continued investment in aviation.”

Formed in 2003, Altavair has since completed over US$8 billion in commercial aircraft lease transactions with over 40 airline customers, including Atlas Air, for over 200 Boeing and Airbus aircraft.

Commenting on the KKR investment, Atlavair CEO Steve Rimmer said it would allow the company to “fully participate” in the commercial aviation leasing sector.

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