KKR, a global investment firm, and Altavair AirFinance, a commercial aviation finance company, announced today the signing of a definitive agreement to acquire 38 commercial aircraft from Etihad Airways, the national airline of the United Arab Emirates.
The aircraft being acquired includes Etihad Airways’ fleet of 16 Boeing 777-300ERs, 6 Trent powered Airbus A330-300s and 16 A330-200s. The transaction provides for the Boeing 777-300ERs to be leased back to Etihad, while the Airbus A330s will be delivered to other airlines.
We’re thrilled to be working with Etihad Airways, a leading airline not only in Abu Dhabi, but across the globe.
Dan Pietrzak and Brandon Freiman, Partners at KKR
We are delighted to extend our partnership with Etihad and play a major role in the re-positioning of their fleet. Altavair’s extensive wide body experience and expertise combined with KKR’s capital, relationships and capabilities made this transaction possible. We appreciate the trust that Etihad has placed in us and look forward to a long and mutually beneficial relationship.
Steve Rimmer, Altavair CEO
We’ve made great strides in optimising our fleet structure over the past year, and this investment from KKR and Altavair AirFinance will allow us to take another step forward in this area. This deal will ensure we stand by our strategic and financial sustainability targets by replacing aircraft with the most technologically-advanced and fuel-efficient fleet types.
Tony Douglas, Group Chief Executive Officer, Etihad Aviation Group
Currently, Etihad owns 19 Boeing 777-300ERs with three different cabin configurations flying to different destinations.
All of their Airbus A330s have been grounded since 2020.
