AIP Capital and ITA Airways Complete Secured Debt Financing

AIP Capital, an alternative investment manager focused on opportunities in commercial aviation, announced it has completed a $240m debt financing to a wholly owned subsidiary of ITA Airways ("ITA") through its Private Credit strategy. The $240 million debt financing is secured by three 2024 Airbus A330-900neo aircraft with Rolls-Royce Trent 7000 engines.

The financing transaction will provide ITA with an innovative capital solution to further strengthen its financial position and enhance its growth. With the introduction of the latest generation eco-efficient A330neo, ITA continues its fleet modernization to meet its ambitious sustainability targets. The A330neo incorporates the latest-generation Rolls-Royce Trent 7000 engines, new wings and a range of aerodynamic innovations which offers a 25% reduction in fuel consumption and CO2 emissions.

"We are proud to deepen our partnership with ITA Airways by providing a bespoke financing solution to support ITA's fleet modernization," said Michael Kittle, Managing Director, Head of Private Credit at AIP Capital. "This transaction is a testament not only to our shared mission of fostering more sustainable air travel, but to AIP's expertise in structuring innovative, scaled, capital solutions for our airline customers globally."

 "This agreement represents a milestone in the expansion of ITA's new-generation fleet" said Antonino Turicchi, Chairman of ITA, "and is in line with ITA Airways' strategy of flanking shareholder equity with a balanced contribution of debt capital. This transaction is another important stride forward in ITA Airways' growth strategy, and it has been possible thanks to an increasing credibility with banks and investors which was acquired through the positive performance recorded in 2023 and in the first half of 2024. We are pleased with the trust provided to us by the AIP Team."

The new-generation aircraft are highly demanded due to their low fuel consumption, lower operating costs, and reduced emissions, enabling a significant reduction in carbon footprint. ITA has made significant progress with fleet renewal since inception in October 2021, growing from 52 aircraft to 100 aircraft today, with new-generation types representing 58% of the total fleet, delivering a 25% reduction in fuel and CO₂ emissions.

AIP Capital's Private Credit business, through its global origination capabilities and long-term investor relationships, provides tailored financing solutions secured by aircraft and non-aircraft collateral to airline customers around the world.

 Italy