Singapore-based Transportation Partners (TP) has hired two aviation executives to expand its aircraft sales and trading capabilities.
Pierre Guillet, previously with EADS in Paris and Jakarta, and Leong Huei Lee, who worked for seven years in aircraft sales and trading at Singapore Airlines, have joined the lessor as vice-presidents of sales and trading.
TP's chief operating officer John Duffy says the lessor will continue to diversify its funding sources in 2014, in order to conduct "more aircraft trading with other lessors and directly from airlines". The lessor hopes to have a portfolio exceeding 50 aircraft by the end of next year, he says.
Since TP's formation in 2011, the lessor's primary objective has been to act as an asset management for the Lion Group, but it also leases to third parties. TP was established under the Singapore's Aircraft Leasing Scheme, a programme run by the country's Economic Development Board that provides tax benefits for locally-based lessors.
In the past year, two other airlines, Norwegian and Philippine Airlines have also announced plans to form aligned leasing companies, a trend which others may follow.