Verona, WI — August 26, 2018 — Contrail Aviation Support, LLC, a worldwide supplier of surplus and aftermarket commercial jet engine components as well as asset leasing and acquisitions, today announced the appointment of commercial aviation asset transaction specialist Kevin Milligan as Director of Marketing and Airline Relations of Contrail Aviation Leasing, LLC. Contrail is a subsidiary of the Air T, Inc. holding company (NASDAQ: AIRT), which provides Contrail with strong capital resources.
In his new role, Milligan will focus on revenue-generating, business development initiatives that expand Contrail’s industry footprint, transaction volume and leasing offerings through additional origination business with airlines around the globe. These initiatives may include targeting wide-body commercial aircraft / engine assets as well as younger, mid-life assets that can continue to be leased.
Milligan joins Contrail with nearly a decade of aviation transaction, leasing, and finance experience focused on trading, leasing, asset management, risk management, and business development. Throughout his career, he has managed over 100 aircraft / engine transactions, demonstrating a strong track record of overseeing all aspects of a prospective transaction from identification to successful closing. Most recently, Milligan served as Senior Director – Asset Transaction Group at GA Telesis, one of the world’s largest commercial aerospace firms offering aircraft leasing, aircraft overhaul and repair, and aircraft replacement parts. Previously, he was with Aviation Capital Group, a worldwide provider of aircraft leasing to airlines, as a Portfolio Management Analyst.
Contrail CEO Joe Kuhn said, “Contrail is experiencing a time of strong performance, and we’re excited Kevin is on board and able to hit the ground running. His extensive global network among airlines brings us tremendous value. He has the right kind of asset transaction experience coupled with a strong financial modeling background. We’re excited about leveraging his contacts and skill-set to drive our business forward, as we broaden our footprint to increase our transaction volume and target younger assets.”
Milligan said, “Being part of Contrail is a tremendous opportunity, especially at a time when the airline industry is undergoing record growth. Asset opportunities are plentiful, and Contrail is well-positioned and well-capitalized to seize upon this sector growth through its aftermarket parts sales, leasing and acquisition capabilities. Maximizing value for our customers is a priority, and our strong airline relationships are a key differentiator in our ability to create a mutually beneficial value proposition for aging assets. I’m looking forward to working with Joe and the rest of the team to help take Contrail to the next level.”
Contrail Aviation Support, LLC. was founded in 2000 with the goal of being a leading supplier of commercial jet engine aftermarket and surplus material that power the worldwide narrow body commercial aircraft fleets. Our operations are located two hours north of Chicago’s O’Hare airport in a 21,000 sqft. facility. The Company has the ability to add personnel as needed, and our warehouse can accommodate inventory equaling up to 50 fully disassembled CFM56/V2500 engines. For nearly two decades, Contrail has grown by leveraging its expertise and experience of the surplus industry to ensure that our inventory is always relevant for the ever-changing marketplace. Contrail also specializes in cost-effective strategies for near end of life CFM56-5B/-7B/V2500A5 assets, including leasing, acquisition of serviceable continued time engines, exchanges and trading. Today, Contrail remains a trusted and growing worldwide supplier of surplus and aftermarket commercial jet engine components as well as leasing and acquisitions. For more information, visit www.contrail.com.