A J Walter Aviation Acquires Four Boeing 737-300 Aircraft for Part-out

A J Walter Aviation, London, 12 September 2011: With demand growing across its portfolio of engine, component and consumables services, A J Walter Aviation has agreed to purchase four Boeing 737-300 aircraft from global aircraft leasing specialists, Pembroke Capital Aircraft (Shannon) Limited, for part out. This purchase has enabled AJW to fast track the induction of engines into its operational plan and is the first of several planned acquisitions that will help to supplement the Company’s expanding spares inventories.

With a positive step change in its business AJW has secured additional funding specifically to acquire larger assets such as engines for short-term lease and teardown, and airframes for part out – preferably B737NG and later generation A320 family aircraft, although the Company also has an interest in wider body B744/777 and A330 aircraft. The B737-300 material is already being allocated to AJW’s regional hubs in Miami, LA, Singapore, Dubai and across Europe to meet the daily demands of customers worldwide, including AJW’s own fleet of over 375 aircraft under contract.

These aircraft were last operated by Germania, the independent airline based in Berlin, who recently chose AJW to provide full power-by-the-hour support for its all new Airbus fleet in addition to its B737CL fleet, as it transitions to the new aircraft by 2013.

Boris Wolstenholme, Chief Executive of A J Walter Aviation, is keen to underline the future potential of this ambitious programme: “We have seen consistent double-digit growth in our business for the past 10 years and we service more than 700 customers in over 100 countries with more aircraft on full PBH contracts than many airlines themselves. To develop our integrated aircraft spares support further we need exponential growth in our capacity, especially engines, and this deal sets out our stall. We have the finance and the capacity to shape our business into a true world leader over the next decade.”

The transaction was arranged by Pembroke Group Limited.