Air Transport World

LEASING ARM IS FORMED FOR FAIRCHILD.

Newcourt Capital and Fairchild Aerospace have formed the Millennium Leasing Co. to provide operating and finance leases for Fairchild Aerospace customers.

Based in San Antonio, Millennium is designed to increase the sale of new and used Fairchild turbo-prop and regional-jet aircraft, and as a means for remarketing aircraft taken on trade-in.

Millennium will purchase Fairchild's existing portfolio of leases, valued at around $140 million, and will acquire and offer for lease additional aircraft every year. Millennium's lease portfolio is expected to reach $400 million in two years.

"The establishment of Millennium Leasing Co. …

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