AJW Group and Arena Investors have formed a joint venture (JV) focused on the selective acquisitions of commercial aircraft, engines and components.

Through a newly-formed entity based in Dublin, Ireland, AJW and Arena will jointly acquire a targeted portfolio of aircraft and engines to be managed and monetised through AJW’s global network.

The partners said the JV combines AJW’s operational expertise and global network with Arena’s experience in aviation-related investments.

The JV will be funded with committed capital of up to USD $100 million. It will feed engines and components into AJW’s global inventory utilising the repair capabilities of the group’s AJW Technique maintenance hub in Montreal.

“We are thrilled to be forming a partnership with AJW, one of the most storied and reputable firms in the aviation services industry, with its wide geographical reach and customer base,” said Arena Investors’ Vivek Nayar.

“AJW’s experience, combined with Arena’s flexible capital solutions, are especially relevant at a time when there are great liquidity needs in the industry. We look forward to helping to solve those needs.”

AJW Group chief financial officer Ian Malin commented: “We are pleased to be working with Arena on this exciting project. Arena brings a vast and diverse experience to the table investing in the aviation sector in complement to AJW’s extensive operational expertise. There are a number of compelling opportunities in the marketplace which we look forward to pursuing together.”