Daily News: August 13, 2014

White Oak Global Provides $65MM Facility to Airline Operator

White Oak Global Advisors announced it provided a $65 million senior secured facility to a club-based airline operator. White Oak served as the administrative agent and sole lender for this transaction.

The financing, which will be initially funded in the amount of $19 million, will be used to refinance existing indebtedness, purchase new aircraft for its growing fleet, and add new routes.

Located in the western U.S, the private air travel Company competes against both short-haul carriers and private jet alternatives. In recruiting members, its target markets are business and corporate executive fliers. The Company offers members an affordable private jet experience with the convenience of set routes and schedules, reduced boarding and check-in times, as well as luxurious and intimate cabins.