Luxembourg, March 19 2019:  Vallair, the mature aircraft and engine asset specialist, today announced it has partnered with like-minded Contrail Aviation Support LLC, a commercial aircraft trading, leasing and parts solutions provider, in a deal for three CFM56-7B engines.

Vallair purchased one CFM56-7B from Contrail with 9,500 cycles remaining, and this was fitted to the Boeing 737NG (MSN36118) in January, which is under lease to SpiceJet. In turn, Contrail acquired two run-out CFM56-7B engines from Vallair, previously removed from this same aircraft, for tear-down. The dismantled components will support the growth of Contrail’s surplus engine parts line of business.

“A mature engine market often creates an increased supply of spare engines and used serviceable material, which can be fed into cost-effective solutions for owners of mature aircraft,” said Gregoire Lebigot, President & CEO at Vallair. “Contrail is pursuing its aim of offering attractive asset end-of-life solutions and this deal further validates them as a leading supplier of CFM56-3/-5/-7 and V2500A5 engine components. Vallair is pleased to become part of Contrail’s expanding network of acquisition and asset leasing partners.”

Steve Williamson, Director of Acquisitions at Contrail, added: “We’re excited about this transaction with Vallair, as it epitomises our cooperative mentality when working diligently and swiftly with our partners around the world. Together, we were able to maximise value for all parties concerned. That is, we instantly monetised the available greentime of a serviceable CFM56-7B engine that benefited our partner’s leased Boeing 737NG, and we purchased two unserviceable CFM56-7Bs to feed our parts material line of business. We couldn’t be more pleased. We look forward to continue executing on our solutions strategy with our customers by leveraging our portfolio of serviceable engines, and when appropriate, helping customers avoid costly engine shop visits while being a gateway to profitably moving their unserviceable engines.”

“Vallair is an extremely valued partner to us, both as a customer and a vendor,” affirmed Contrail’s CEO Joe Kuhn. “This transaction builds off a successful 2018 for Contrail that saw us close over twenty similar marquee deals. While the foundation of our 20-year company is in engine parts, we’re actively building on that legacy through our trading and leasing efforts by, in part, efficiently developing a strong pipeline of assets that will continue to feed our engine material business. We look forward to continuing our momentum with Vallair and doing more transactions with them when opportunities occur.”

2019 will see Vallair’s own Engine Business Unit, which actively markets engines and spare parts, invest in tooling and training to expand its portfolio of repair and teardown expertise which is presently centred on the CFM56-5A engine type.

Vallair is an aviation company headquartered in Luxembourg with facilities in Chateauroux and Montpellier in France. It provides integrated support for mature aircraft, engines and major components. Six complementary business units are founded upon engineering excellence: trading & leasing, cargo conversions, aircraft MRO, engines, aero-structures & painting, and aircraft disassembly. These offer aircraft operators and owners worldwide cost-effective solutions to extend the life of their assets, or dispose of them in an economically beneficial and environmentally acceptable way. Vallair is a leading player in the trading and leasing of A320 family, ATR and B737 aircraft. To learn more www.vallair.aero

Contrail Aviation Support, LLC. is a commercial aircraft trading, leasing and parts solutions provider focused on creative asset management strategies that maximise value. Founded in 2000 as an engine material trading company primarily focused on used serviceable material from the JT8D and CFM56-3, Contrail has since expanded into the most prevalent engine types powering the 737NG & A320 family. Contrail’s headquarters are located two hours north of Chicago’s O’Hare airport in a 21,000 sq.ft facility. The Company also has a whole-asset trading office in Denver, Colorado and a satellite marketing presence in Shanghai, China. Contrail is a business unit of AIR T, INC. (NASDAQ: AIRT), which is an industrious American holding company with a portfolio of powerful businesses, each of which operates independently yet interrelatedly. For more information, visit www.contrail.com.

Company Contacts:

Vallair
communication@vallair.aero
EBBC Bloc B, 6 rue de Treves; L-2633 Senningerberg G/D of Luxembourg   +(352) 2610 3967

Contrail Aviation Support, LLC
Kevin Milligan, kevin@contrail.com, +1 949-933-0797