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Eastar Jet owner receives capital injection from AIP Capital
September 7th 2023
AIP Capital has reached an agreement with VIG Partners to invest in the private equity fund and controlling owner of South Korea-based Eastar Jet. Read More » AIP also has agreed to lease five 737 MAX 8s to Eastar Jet, with two delivered in August and one delivery scheduled for this month followed by two more in the third quarter of 2024. “We are pleased to be a first mover with Eastar Jet immediately following the acquisition by VIG Partners," AIP Capital managing partner, Jared Ailstock, said. "AIP’s commitment of five 737 MAX aircraft and concurrent financial investment was key in Eastar continuing as a Boeing operator as they seek to grow the airline." VIG Partners managing partner, Changhoon Shin, said the company was "pleased to establish and build" its relationship with AIP through this large transaction. "Five aircraft for Eastar Jet will be the foundation of the airline’s network and allow us to initiate substantial growth with the operational efficiency of the Boeing 737 MAX.”
