Vx Capital Hires Howard Dugger as Senior Vice President of Marketing
February 2010 - Vx Capital Partners is pleased to announce the appointment of Howard Dugger as the firm's Senior Vice President of Marketing. Howard was previously Vice President of Marketing for Asia and North America at San Francisco based Babcock & Brown Aircraft Management for ten years.
"We are delighted that Howard is joining our team at Vx . Howard brings with him more than fifteen years of aircraft marketing experience as well as deep relationships with many airlines worldwide." said Bob Brown, Partner of Vx Capital. "We are delighted that he is joining our team here at Vx and look forward to his significant contribution to our existing platform."
Howard's contact info are as follows:
Tel: (415) 296-5288
Cell: (415) 412-2209
Email: howard.dugger@vxcapital.com
View Howard's Bio
Vx Capital Partners is a private investment firm headquartered in San Francisco that makes debt and equity investments in commercial aircraft and related aviation assets. Vx Capital Partners has broad capabilities in aircraft and engine leasing, and is an active investor in aircraft, engines, leases and loans.
Vx Completes Purchase and Leaseback of Ten Boeing 757-200 Aircraft with United Airlines
December 2009 - Vx Capital Partners announced today that it completed the purchase and leaseback of ten Boeing 757-200 aircraft between August and December. The aircraft are leased to United Airlines for periods ranging from 4 to 8 years. The transaction was completed in two tranches and involved multiple debt and equity participants.
"We are extremely pleased to complete the transaction with United Airlines.", said Will Hudson, Partner of Vx, "Vx has a long relationship working with United and we look forward to future opportunities with the carrier. We are also pleased to continue our investment in the 757-200 aircraft which we believe to be a strong aviation asset."
"These transactions allowed us to engage with existing as well as new financial partners.", said Bob Brown, Partner of Vx, "We plan to continue building these relationships."
Vx Hires Paul Steele as Senior Vice President of Powerplant Origination & Marketing
October 12, 2009 - Vx Capital Partners is pleased to announce the appointment of Paul Steele as the firm's Senior Vice President of Powerplant Origination & Marketing. Steele was previously Director of Strategic Sourcing at Volvo Aero Services in Boca Raton, Florida.
"We are extremely pleased that Paul has joined our team here at Vx.", said Will Hudson, Partner of Vx, "Paul has a tremendous amount of knowledge and experience in the trading and leasing of aircraft engines. Given Paul's deep technical expertise, we are confident that he will be a significant contributor to the team at Vx Capital."
Vx Announces Purchase and Lease of Spare Engine
July 13, 2009 - Vx Capital Partners completed the purchase and onward lease of a Pratt & Whitney JT9D-7R4G2 spare jet engine. Vx purchased the engine to meet the urgent requirement of an airline customer, which had experienced an unexpected engine failure. Will Hudson, Partner of Vx, said, "We were pleased to react rapidly for our customer. Engine Leasing is an important product line for Vx; we recognize the importance of helping our airline customers protect their schedules. In this case, we identified, inspected, purchased and delivered the engine within fourteen days after being approached by the airline."
Vx Capital Partners Closes Forward Sale Transaction
March, 2009 - Vx Capital Partners completed the forward sale of three Boeing 757-200s. The aircraft are currently on lease to Delta Air Lines with senior debt financing provided by PK Air Finance. At the end of the respective lease terms with Delta in 2010, the aircraft will be delivered to the new owner for reconfiguration.
Vx Hires Lily Ng of Merrill Lynch
January 26, 2009 - Vx Capital Partners hired Lily Ng as the firm’s credit and transaction analyst. Prior to joining Vx, Lily was a Vice President in Merrill Lynch's Airline Equity Research group, where she either led or assisted in coverage of all major U.S., Canadian and Latin American carriers, as well as aircraft leasing companies. The team was ranked in the top three by Institutional Investor magazine for the last five years, and received Wall Street Journal's Best Stock Picker Award for six out of the last seven years. Lily will be covering airlines for Vx, as well as developing origination opportunities.
Vx Announces 2008 Engine Leases
December 12, 2008 - Vx Capital Partners successfully completed leases involving 29 spare commercial jet engines in 2008. The leases, which involved General Electric CF6-50 and Pratt & Whitney JT9D engines, are leased to Northwest Airlines, World Airways, Air Atlanta Icelandic, and Arrow Air Transport. Will Hudson, Partner of Vx, said, "We are pleased with Vx’s growth in the widebody spare engine sector. In addition, we certainly appreciate the ingenuity and perseverance of our airline customers in 2008, first during the difficult summer fuel environment and later during the economic crisis."
Vx Restructures ATA Airlines Transaction
August 8, 2008 - Vx Capital Partners announced the successful restructuring of nine aircraft leases with Global Air Logistics (“Global”). Vx agreed to terminate nine Douglas DC10-30 aircraft leases with Global subsidiary ATA Airlines Inc., which filed for bankruptcy protection on April 2, 2008. Another Global subsidiary, World Air Holdings, Inc. (“World”), purchased four of the airframes from Vx and leased the other five from Vx under long term leases. A related 23 engine, power-by-the-hour contract was also assigned from ATA to World.
Vx Capital Partners Sells 757-200 Portfolio to Guggenheim Aviation Partners
May 16, 2008 - Vx Capital Partners announced today that it has completed the sale of seventeen Boeing 757-200 aircraft to Guggenheim Aviation Partners. All of the aircraft are subject to leases with Delta Airlines. Vx purchased the aircraft from 2003 through 2006, and restructured the respective lease agreements. These transactions occurred during Delta’s bankruptcy, from which Delta emerged in mid-2007.
Vx Capital Partners Closes $10.5mm Corporate Credit Facility with Bridge Bank
May 15, 2008 - Vx Capital Partners closed a $10.5mm corporate credit facility with Bridge Bank. “Bridge Bank is a key partner for Vx Capital as we approach the next phase of the aircraft market - this facility gives us the financial flexibility to support and propel our business” commented Robert Brown, Partner of Vx Capital. Michael Hengl, Senior Vice President for Bridge Bank, remarked that “Bridge Bank is pleased to have partnered with Vx Capital Partners. Vx stands apart from many other companies, following a unique and innovative approach. Bridge looks forward to continuing to be part of Vx’s success.”
Vx Capital Partners Completes Sale of Northwest 757-200 to AeroTurbine
May 14, 2008 - Vx Capital Partners announced today that it finalized the sale of one Boeing 757-200 to AeroTurbine, a subsidiary of AerCap (NYSE:AER). The aircraft is subject to a long term lease with Northwest Airlines. Vx Capital negotiated the lease during Northwest’s bankruptcy restructuring, which ended in mid-2007.
Vx Capital Partners Finances Purchase of 757-200s with PK Air Finance
April 24, 2008 - Vx Capital Partners purchased three Boeing 757-200s on lease to Delta Airlines with senior debt financing provided by PK Air Finance and junior debt financing provided by CarVal Investors.
Vx Capital Partners Completes Purchase and Leaseback of two A320 Aircraft with Virgin America
April 20, 2008 - Vx Capital Partners announced today that it completed the purchase and leaseback of two new Airbus A320 aircraft being delivered from Airbus to Virgin America. The aircraft are leased to Virgin America for 12 years. DVB Bank AG provided senior debt and Citigroup provided mezzanine financing. Vx Capital is the sole equity investor.
Vx Capital Partners Adds to Operations Team
March 17, 2008 - Vx Capital Partners recently expanded its operations and administrative team and is pleased to announce that Annie Tsang has joined the firm as an Accounting Manager, and Diane Burkhart has joined the firm as a Senior Contract Administrator. Annie Tsang comes to Vx from Pegasus Aviation where she served as a Staff Accountant and Senior Accountant over the last eight years. Diane Burkhart brings 20 years of industry experience from various positions at Macquarie Aircraft Finance, GATX, GE Capital and Comdisco.
Vx Closes Multi-Party Transaction
August 2007 - Vx Capital closed a multi-party transaction involving their 747-300 previously on lease to Corsairfly of Paris, France. The transaction involved a sale of the airframe and a refinancing/remarketing of the engines. Proceeds from the refinancing were also used to purchase a Pratt & Whitney JT9D-7R4G2 spare engine. Lessees for the five JT9D engines include Air Atlanta Icelandic of Reykjavik, Iceland, Cargo 360 of Seattle, Washington, and MK Airlines of Landhurst, England.
William B. Hudson, Partner at Vx, said, “We are happy with the outcome of our refinancing and remarketing efforts as they have allowed us to add five strong spare engines to our engine leasing portfolio. We are especially pleased to extend our relationship with Air Atlanta and to add MK and Cargo 360 to the list of 747 operators with whom we work”.
