AJW Capital Partners says it will fund its newly purchased Airbus A340-500s with internal funds.
The investment division of the AJW acquired a pair of A340-500s last week from Airbus. Both aircraft are expected to be delivered at the end of December or early 2013.
"AJW is known for its power-by-the-hour, part-out business and spares and engine leasing activity, but we are not acquiring these aircraft for part-out," says AJW Capital Partners' managing director Ian Malin.
"We saw an opportunity in the marketplace to support an existing customer by identifying and sourcing aircraft."
AJW has made all payments to date. Both aircraft will be sold to the customer upon delivery.
Malin says that the AJW Group is open to more acquisitions. "We are not taking a new direction for the business but we are contemplating more transactions."