Verona-based Contrail Aviation gains access to $408M in equity capital
With an assist from Air T Inc., an American holding company that operates a group of aviation businesses, the Verona-based Contrail Aviation recently gained access to $408 million in equity capital to target future investments.
To complement Air T’s existing operating businesses, the company has formed a new aircraft asset management business called Contrail Asset Management (“CAM”), and a new aircraft capital joint venture called Contrail JV II LLC. The joint venture has been formed as a scalable asset management platform and will focus on acquiring commercial aircraft and jet engines for leasing, trading, and disassembly.
Meanwhile, CJVII will target investments in current generation narrow body aircraft and engines, building on Contrail Aviation Support’s asset management expertise. Initially, CJVII will be capitalized with up to $408 million of equity from Air T and three institutional investor partners.