AIP Capital, an alternative investment manager focused on opportunities in commercial aviation, completed a $240 million debt financing to a wholly owned subsidiary of ITA Airways 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.
“We are proud to deepen our partnership with ITA Airways by providing a bespoke financing solution to support ITA’s fleet modernization,” Michael Kittle, managing director, head of private credit at AIP Capital, said. “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 and is in line with ITA Airways’ strategy of flanking shareholder equity with a balanced contribution of debt capital.,” Antonino Turicchi, chairman of ITA, said. “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.”
