| AerSale, Inc. | |
| Type: | Public |
| Traded As: | NASDAQ: |
| Foundation: | 2008 |
| Founders: | Nicolas Finazzo and Robert B. Nichols |
| Location: | Doral, Florida, U.S.[1] |
| Area Served: | Worldwide |
| Key People: | Nicolas Finazzo (Chairman & CEO) Robert B. Nichols (Vice Chairman) Martin Garmendia (CFO) Basil Barimo (President-MRO Services) Craig Wright (President-Aircraft & Engine Management) Iso Nezaj (President-Engineered Solutions, CTO) Gary Jones (President-Materials Group) Enrique Pizzi (CIO) |
| Industry: | Aviation Aerospace and defense |
| Homepage: | www.aersale.com |
AerSale, Inc. is a Doral, Florida-based[1] global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs.[2] AerSale is a member of the Aircraft Fleet Recycling Association.[3]
The company was founded in Coral Gables, Florida, in 2008. The two founders invested US$250 million in equity in January 2010.[4] [5]
In July 2010, AerSale delivered a specially modified Boeing 737-400 aircraft to the National Nuclear Security Administration to fly depleted nuclear waste to disposal sites.[6] It supplied low-cost, used turbine blades to the Department of Defense for use on the Air Force's KC-135 Stratotanker aircraft; it saved the government US$36 million.[7]
AerSale operates three integrated lines of business: Aircraft & Engine Leasing; Material Sales; and Maintenance, Repair & Overhaul (MRO). The company is an aftermarket seller of original equipment manufacturers (OEM) used serviceable material.[8]
AerSale sells and leases engines and aircraft, both commercial passenger and cargo aircraft. It has purchased Boeing 737-300, Boeing 737-400, Boeing 737-500, Boeing 747-400, Boeing 757-200, and Boeing 767-300 passenger and freighter aircraft; Airbus A300-600R, Airbus A310-200, Airbus A320-200, and Airbus A330-300 passenger aircraft; and McDonnell Douglas MD-90 passenger and McDonnell Douglas DC-8-70 series freighter aircraft.
In November 2013, it completed a major maintenance check for NASA on its flying laboratory, a specially modified McDonnell Douglas DC-8-70 series aircraft.[9]
On March 12, 2010, the Aviation Suppliers Association certified AerSale's quality system to meet the requirements of ASA-100 and FAA Advisory Circular 00-56A.[10] On June 14, 2011, AerSale was certified by the Aircraft Fleet Recycling Association.[11] On February 24, 2014, it received a U.S. Approval Certificate from the European Aviation Safety Agency (EASA).[12]
In December 2023, the FAA approved the AerAware headset device SKYLENS as part of a enhanced flight vision system.[13] [14]
AerSale's first acquisition came in 2009 when it acquired 44 McDonnell Douglas DC-8-70 series aircraft from a major international logistics company.[15]
In May 2010, AerSale acquired the assets of Great Southwest Aviation located at the Roswell International Air Center in Roswell, New Mexico.[16] [17] In late 2010, AerSale acquired 19 Boeing 747-400 aircraft from Japan Airlines, representing two-thirds of the JAL fleet of 747-400s.[18] In 2012, AerSale acquired 25 of Saudi Airlines's McDonnell Douglas MD-90 aircraft.[19] In July 2015, AerSale acquired Aero Mechanical Industries, Inc. (AMI), located in Rio Rancho, New Mexico, to expand its component overhaul services to include aero structures.[20] In 2018, AMI was rebranded AerSale Component Solutions.[21] [22]
In November 2018, AerSale acquired Avborne, located in Miami, Florida, to include overhaul capability for hydraulic, pneumatic, and landing gear.[23] [24] [25] In June 2019, AerSale acquired airframe parts specialist Qwest Air Parts to add scale to its offering of airframe used serviceable material.[26]
AerSale Corp. and Monocle Acquisition Corporation announced their merger in December 2019, with an implied enterprise value of about US$430 million. The deal was revised in September 2020, with a lower value of about US$300 million. The combined company, named AerSale Corporation, began trading on Nasdaq under the ticker symbol "ASLE" in December 2020.[27] [28]