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AvAir and Finnair Build on Collaboration

Acquisition by AvAir of More than Half a Million Parts

CHANDLER, Ariz. AvAir, an industry-leading inventory solutions provider for the aviation aftermarket and Finnair are pleased to announce that AvAir has acquired more than half a million parts from Finnair with more than 14,000 line items.

Finnair has worked with AvAir for more than 15 years, transacting more than 20,000 line items, historically. This asset management agreement grows this relationship to continue to bring value to Finnair’s assets.

This inventory of rotable and consumable parts covers the following fleets: A319, A320, A321, A330,  A350, ATR72-500 and  EMB190 and will be relocated to AvAir’s Chandler warehouse.

“Partnering with Finnair and propelling our relationship forward is a win-win allowing AvAir to expand its offerings and be solutions-oriented for our customers while providing an outlet for Finnair’s assets,” said Zach Hall, vice president of business development at AvAir. 

“We are happy to continue to work with our long-term partner AvAir. This partnership not only allows us to invest and further expand our stocks but also ensures prudent asset management,” said Pete Reinikkala, head of supply chain management at Finnair.

With more than 26 million in-stock components, AvAir offers solutions for customers and suppliers to buy, sell, exchange, loan, lease, or manage assets and inventories. The company is ISO 9001, AS9120, and ASA 100 certified, and adheres to the highest quality standards in all phases: purchasing, receiving, stocking, sales, and shipping.

About Finnair

Finnair is a network airline, specializing in connecting passenger and cargo traffic between Asia, the Middle East, North America and Europe. Finnair is the only airline with year-round direct flights to Lapland. Sustainability is at the heart of everything we do – Finnair intends to reach carbon neutrality latest by the end of 2045. Customers have chosen Finnair as the Best Airline in Northern Europe in the Skytrax Awards for 13 times in a row. Finnair is a member of the oneworld alliance. Finnair Plc’s shares are quoted on the Nasdaq Helsinki stock exchange. 

AvAir Secures Major Expansion with Enhanced Credit Facility

CHANDLER, Ariz., – AvAir, a leading inventory solutions provider for the aviation aftermarket, has announced the successful closure of a new 3-year syndicated senior credit facility led by HSBC Bank USA. This new facility represents a significant leap forward, offering increased availability, more favorable pricing, and improved terms compared to the Company’s previous credit arrangement. The overwhelming interest from syndicate participants enabled AvAir to increase the facility’s size at closing, showcasing a strong vote of confidence in the Company’s growth trajectory.

The syndicate, led by HSBC Bank USA as Administrative Agent and Lead Arranger, also includes First Citizens Bank and Western Alliance Bank. 

Mike Bianco, Chief Executive Officer of AvAir, expressed his enthusiasm about the Company’s financial and operational success, which has positioned them to not only refinance but also substantially expand their borrowing capacity. “Partnering with esteemed aviation lenders such as HSBC, First Citizens, and Western Alliance is a testament to our commitment to excellence and innovation in serving our customers’ inventory needs,” stated Bianco.

AvAir’s recent accolade of being named the No. 1 “Parts Supplier of the Year” by Airline Economics for the 4th consecutive year underscores the Company’s unwavering dedication to industry leadership and outstanding reputation.

With over two decades of experience, AvAir offers customized solutions for customers and suppliers to transact through buying, selling, exchanging, loaning, leasing, or consigning, boasting a vast inventory of more than 26 million components. The Company’s adherence to ISO 9001, AS9120, and ASA 100 certifications ensures the highest quality standards across all operations, from procurement to shipping, solidifying AvAir’s position as a trusted partner in the aviation aftermarket.