Advertising
  • News
  • Finance
  • Banking & lessors
  • Intrepid replaces chief executive

Intrepid replaces chief executive

Doug Winter has been appointed as Intrepid Aviation's chief executive, the US lessor confirms.

Previous chief Olaf Sachau was replaced last night, according to three sources, with Winter – who has been serving as president and chief operating officer – taking over immediately.

Earlier this year, Intrepid was looking to raise about $350 million of equity to replace current investor Centerbridge Partners. But the search ended in the middle of the summer, a source tells FlightGlobal.

Stamford, Connecticut-based Intrepid has in recent years faced challenges with its widebody fleet, including its exposure to Skymark Airlines. Intrepid was the Japanese low-cost carrier's largest creditor, after agreeing leases for seven A330s, some of which were never delivered. All seven A330s originally destined for the Skymark have been released to Turkish Airlines.

Intrepid also successfully restructured Boeing orders for six 777-300ERs into four of those aircraft, placed with Philippine Airlines, plus two 747-8Fs placed with AirBridgeCargo.

Flight Fleets Analyzer shows that Intrepid has 31 aircraft in service. The lessor is owned by two private equity firms: Reservoir Capital and Centerbridge.

Related Content
Advertising

Advertising