GA Telesis, Tokyo Century Corporation, and All Nippon Airways Trading have formed a joint venture called Gateway Engine Leasing.
The new entity will focus on “rising demand from airlines worldwide for long-term engine leases,” says GA Telesis in a statement.
Gateway will initially operate from Ft. Lauderdale, the headquarters of aftermarket services provider GA Telesis, but “has plans to rapidly expand to Europe and Asia.”
The joint venture will start operations with a seed portfolio of IAE V2500s, CFM56-5Bs, and General Electric CF6-80E powerplants already on lease.
In October, the three parties reached an in-principle agreement to form an engine leasing joint venture "focusing on current-technology jet engines". Equity will be provided by the three companies, with GA Telesis acting as the manager.
In October, Tokyo Century and ANA Trading bought a 39% stake in GA Telesis from a Bank of America subsidiary. This gave ANA a 10% stake and boosted Tokyo Century’s to 49.2%.