Solitair is saved by investment group

SWEDISH AIRCRAFT-leasing company Solitair, has been rescued from collapse by international investment group, Vestar Capital.

Faced with rising debts and mounting losses, Solitair had won a stay of execution from its main bank lender, but on the condition that it raised up to SKr238 million ($33 million) from its shareholders (Flight International, 24-30 May).

Vestar wants to expand into aircraft leasing, and will underwrite the share issue and to take over the 25% stake held in Solitair by Irish leasing group GPA.

Source: Flight International