AerSale
| File:AerSale logo.svg | |
| Company type | Public |
|---|---|
| Template:Nasdaq | |
| Industry | Aviation Aerospace and defense |
| Founded | 2008 |
| Founders | Nicolas Finazzo and Robert B. Nichols |
| Headquarters | Doral, Florida, U.S. |
Area served | Worldwide |
Key people | Nicolas Finazzo (Chairman & CEO) Martin Garmendia (CFO) Ben Tschirhart (Head of Engineered Solutions) Craig Wright (Head of Aircraft & Engine Management) Iso Nezaj (Chief Product Development Officer) Gary Jones (Head of Materials Group & COO) Enrique Pizzi (CIO) |
| Website | www.aersale.com |
AerSale, Inc. is an international provider headquartered in Doral, Florida that supplies aftermarket commercial jet aircraft, engines, used components, and aeronautical engineering solutions to passenger and cargo carriers, government entities, original equipment manufacturers (OEMs), and independent maintenance, repair, and overhaul (MRO) organizations. The company holds membership in the Aircraft Fleet Recycling Association.
History
Established in 2008 in Coral Gables, Florida by founders Nicolas Finazzo and Robert B. Nichols, AerSale raised $250 million in equity financing by January 2010.
In mid-2010, AerSale delivered a specially modified Boeing 737-400 to the National Nuclear Security Administration for the purpose of transporting depleted nuclear materials. Additionally, the firm provided the Department of Defense with cost-effective used turbine blades for Air Force KC-135 Stratotanker aircraft, resulting in government savings of $36 million.
Lines of business
AerSale's operations encompass three interconnected sectors: Aircraft & Engine Leasing, Material Sales, and Maintenance, Repair & Overhaul (MRO). The company focuses on aftermarket sales featuring OEM-used serviceable parts.
The firm leases and sells commercial passenger and freighter aircraft as well as engines. Its inventory includes Boeing models 737-300/400/500, 747-400, 757-200, 767-300; Airbus A300-600R, A310-200, A320-200, A330-300; along with McDonnell Douglas MD-90 and DC-8-70 series planes.
In 2013, AerSale performed a comprehensive maintenance inspection for NASA on its modified DC-8-70 flying laboratory.
Certifications
AerSale’s quality management system complies with ASA-100 and FAA Advisory Circular 00-56A standards and was accredited by the Aviation Suppliers Association in 2010. The company obtained certification from the Aircraft Fleet Recycling Association in 2011 and secured U.S. authorization from the European Aviation Safety Agency (EASA) in 2014.
In December 2023, the FAA granted approval for AerSale’s AerAware SKYLENS headset as part of an advanced flight vision system, enhancing its aviation technology offerings.
Acquisitions
AerSale initiated its acquisition approach in 2009 by purchasing 44 McDonnell Douglas DC-8-70 series aircraft from a prominent global logistics firm.
In May 2010, the company obtained the assets of Great Southwest Aviation located at Roswell International Air Center in New Mexico. Later that year, AerSale secured 19 Boeing 747-400 planes from Japan Airlines, which accounted for approximately two-thirds of JAL’s 747-400 fleet. The expansion continued in 2012 with the addition of 25 McDonnell Douglas MD-90 aircraft acquired from Saudi Airlines.
To strengthen its component overhaul capabilities, AerSale acquired Aero Mechanical Industries, Inc. (AMI), headquartered in Rio Rancho, New Mexico, in July 2015. AMI was rebranded as AerSale Component Solutions in 2018. That same year, AerSale broadened its maintenance, repair, and overhaul (MRO) services by purchasing Avborne in Miami, Florida, a company specializing in hydraulic, pneumatic, and landing gear overhauls. In June 2019, AerSale further expanded its offerings of airframe used serviceable materials through the acquisition of Qwest Air Parts.
In December 2019, AerSale completed a merger with Monocle Acquisition Corporation in a transaction initially valued near US$430 million. This valuation was adjusted in September 2020 to approximately US$300 million. The merged organization, now known as AerSale Corporation, began trading on Nasdaq under the symbol "ASLE" in December 2020.