Setna iO is thrilled to announce the acquisition of one (1) Airbus A319-100 aircraft from AE Industrial Partners, currently on lease to Global Crossing Airlines (GlobalX). The aircraft previously operated with Allegiant Air before transitioning to GlobalX, where it is expected to support the airline’s operations over the next two years. Setna iO will act as servicer and manager of the aircraft throughout the lease term.
This acquisition represents the first of four aircraft Setna iO will acquire from AE Industrial Partners that will be delivered and placed on lease with Global Crossing Airlines over the coming quarter. With this transaction, Setna iO expands its relationship with GlobalX, bringing the total number of aircraft the company manages on lease with the airline to three.
“The acquisition of this aircraft further strengthens our longstanding relationship with Global Crossing Airlines, bringing the total number of aircraft we manage on lease with them to three,” said Hunter Edens, Chief Commercial Officer of SETNA and President of SETNA’s leasing business. “We are excited to close our first aircraft acquisition with AE Industrial Partners and are grateful for everyone’s efforts to get this transaction over the finish line. We look forward to continuing our partnership with Global Crossing to support their operation and to future business opportunities with AE Industrial Partners.”
Nathan Dickstein, Managing Director at AE Industrial Partners, added: “We’re pleased to partner with Setna iO on this transaction. They have been a strong and collaborative partner throughout the process, and we look forward to completing the remaining aircraft deliveries and exploring additional opportunities together in the future.”
Aviation Transaction Advisors and Saul Ewing acted as legal counsel to Setna iO, while Vedder Price served as counsel to AE Industrial Partners.