Newport Beach, Calif. (March 14, 2014) – Aviation Capital Group (ACG) announced today its sole shareholder, Pacific Life Insurance Company (Pacific Life), has contributed additional equity capital of $150,000,000 to the Company.
Mr. Denis Kalscheur, CEO of ACG stated that "Our partnership with Pacific Life began in 1996 and, with over $1.5 Billion invested in ACG, this demonstration of support by our Parent reflects the continued long term commitment Pacific Life has to ACG and the customers we serve. The additional equity investment positions the Company well for the future and provides us with additional resources to execute on our business plan."
About Aviation Capital Group
Celebrating its 25th anniversary in 2014, ACG is one of the top aircraft operating lease enterprises in the world with a portfolio in excess of 250 commercial aircraft leased to over 90 airlines in more than 40 countries. ACG also maintains one of the industry’s largest new aircraft order books with more than 140 additional Boeing and Airbus aircraft on order. ACG has an investment grade credit rating and is a wholly owned subsidiary of Pacific Life Insurance Company (“Pacific Life”). Founded in 1868, Pacific Life is one of the leading U.S.-based life insurance companies. As of December 31, 2013, Pacific Life has in excess of $120 billion in assets under management and financial strength ratings of A+/A1/A+ (Standard & Poor’s, Moody’s, Fitch Ratings)