What Apollo Aviation Group does

Carlyle Aviation Partners, formerly Apollo Aviation Group, is a commercial aviation investment and servicing platform that operates as the dedicated aviation arm of The Carlyle Group's Global Credit business. Founded in 2002 by Bill Hoffman and Robert Korn as an end-of-life aircraft part-out firm, the company expanded into a multi-strategy asset manager spanning the full aircraft lifecycle, including pre-delivery payment (PDP) financing, new delivery financing, sale-leasebacks, young and mid-life aircraft and engine leasing, aircraft marketing and transitioning, end-of-life part-out and liquidation, and securitization servicing. The company reports $10.5 billion in assets under management (as of March 31, 2026, per the homepage) covering 1,272 aircraft owned or managed, with 120 airline relationships across 55 countries and offices in Miami (headquarters), Dublin, and Singapore.

The business is structured around investment vehicles - SASOF III, SASOF IV, SASOF V, CALF, AIR Fund, CAPF VII, and the $1.8 billion Maverick Aviation Partnership (anchored by CPPIB) - alongside wholly-owned operating subsidiaries including Fly Leasing (acquired 2021) and Carlyle Aviation Securities Partners (capital markets and ABS servicing). The firm is one of the largest issuers of aircraft ABS-like debt by deal count, with 17 AASET transactions completed, most recently AASET 2025-1 ($518 million secured notes, 23 aircraft, with an innovative master trust structure) and AASET 2024-1 ($428 million, 12 aircraft). The firm operates with deep internal servicing capabilities, including a proprietary Maintenance Event Anticipation Technology, marketing and technical transitioning teams, and historically recognized end-of-life part-out capabilities.

Revenue mechanics combine asset management fees on flagship funds and managed accounts, operating lease income on owned aircraft portfolios, transaction-based fees from PDP financing and securitization servicing, and gains on aircraft part-out and liquidation. The customer base is split between commercial airlines (as lessees and PDP/lease counterparties) and institutional investors (as LPs in SASOF, CALF, Maverick, and managed accounts). The platform was acquired by The Carlyle Group in 2018 and rebranded from Apollo Aviation Group to Carlyle Aviation Partners, with the founders retaining senior roles and the firm now positioned as Carlyle's commercial aviation investment and servicing franchise.

Name

Apollo Aviation Group

Legal name

Carlyle Aviation Partners Ltd.

Website

https://apollo.aero

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Short description

Carlyle Aviation Partners (formerly Apollo Aviation Group) is a commercial aviation investment and servicing platform managing $10.5B in assets across 1,272 aircraft, serving 120 airlines in 55 countries with leasing, PDP financing, ABS securitization, and asset management services.

Ownership category

akta.pro rank

Product category

Aviation Asset Management

NAICS

Other Financial Vehicles (52599)

SIC

Services-Equipment Rental & Leasing, Nec (7359), Investment Advice (6282)

akta.pro primary industry

Private Aviation Insurance & Financing/Leasing Services (THABAFAM)

Keywords

• Aircraft leasing services
• Aviation asset management
• Aircraft securitization
• Aviation investment funds
• Pre-delivery payment financing

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Asset Management and Advisory Fees: Generates revenue through management fees and advisory services for aviation investment funds including SASOF III, SASOF IV, SASOF V, CALF, Maverick, and CAPF VII.
2. Aircraft and Engine Leasing: Originates, acquires, and manages commercial aircraft and engines for lease to airlines globally.
3. Securitization Servicing: As one of the largest servicers to aviation debt securitizations, issues loan and 144a bond format securitizations. Largest issuer of aircraft ABS-like debt by number of deals.
4. Pre-Delivery Payment Financing: Provides short-term pre-delivery payment financing facilities for near-term production slots on current generation commercial aircraft.
5. Aircraft Part-Out and Liquidation: Recognized historically as one of the largest part-out firms globally, distributes aircraft parts and engines through relationships with consignment partners.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Apollo Aviation Group (operating as Carlyle Aviation Partners) is a commercial aviation investment and servicing firm that originates, acquires, manages, and leases commercial aircraft and engines to airlines globally, while raising and managing aviation-focused investment funds for institutional investors. The company provides pre-delivery payment financing, sale-leasebacks, end-of-life aircraft part-out and liquidation, and aircraft-backed securitization servicing through its AASET transaction platform.

Product overview

Carlyle Aviation Partners is the commercial aviation investment and servicing platform of Carlyle's Global Credit business, managing assets across the full aircraft lifecycle. The company operates through two main pillars: (1) investment management products including SASOF III/IV/V (mature aircraft leasing and part-out funds), AIR Fund (aviation income return), CALF (new and young aircraft fund, $695m), and Maverick Aviation Partnership ($1.8b private investment vehicle); and (2) direct services spanning pre-delivery payment (PDP) financing for aircraft manufacturers, commercial aircraft and engine leasing, proprietary maintenance expense management technology, aircraft marketing and transitioning support, end-of-life asset liquidation (one of the largest part-out firms globally per Ascend), and securitization servicing via the AASET transaction platform. The platform also includes Carlyle Aviation Securities Partners for capital markets activities and the SALSA Advisory Program for structured aircraft-backed loans. Founded in 2002 as Apollo Aviation Group, acquired by The Carlyle Group in 2018 and rebranded to Carlyle Aviation Partners. Manages $10.5B in assets under management across 1,272 aircraft owned or managed, serving 120 airline relationships in 55 countries, with over 125 professionals across offices in Miami, Dublin, and Singapore.

Differentiator

Problem solved

Functional benefit

Brands

• SASOF (Carlyle Aviation Senior Opportunities Fund): Series of flagship aviation funds focusing on mature/mid-life aircraft leasing and part-out
• AASET (Apollo/Carlyle Aviation Securitization Equity Trust)
• Carlyle Aviation Securities Partners
• SALSA Advisory Program
• CALF (Carlyle Aviation Lending Facility)
• AIR Fund
• Maverick Aviation Partnership
• Fly Leasing

Products and services

• Commercial Aircraft and Engine Leasing Originates, acquires, and manages commercial aircraft and engines for lease to airlines across 55 countries under operating lease structures.
• Pre-Delivery Payment Financing Provides short-term pre-delivery payment financing facilities for near-term production slots on current generation commercial aircraft, enabling airlines to bridge payments to manufacturers prior to delivery.
• End-of-Life Asset Liquidation (Part-Out) Distributes aircraft parts and engines through consignment partners and aerospace companies at the end of an aircraft's economic life, recovering residual value from mature assets.
• Securitization Servicing (AASET Platform) Issues and services aircraft-backed securitizations in loan and 144a bond format through the AASET (Apollo/Carlyle Aviation Securitization Equity Trust) series, serving as one of the largest servicers to aviation debt securitizations.
• SASOF Series Funds Flagship institutional aviation investment funds (Senior Aircraft Secured and Operating Finance) targeting mature and mid-life aircraft leasing and part-out strategies across multiple vintages.
• CALF (Carlyle Aviation Lending Facility) Institutional aviation investment fund focused on new and young aircraft lending strategies, with $695 million in capital.
• AIR Fund (Aviation Income Return) Aviation investment fund designed to deliver income-style returns from aviation assets.
• Maverick Aviation Partnership $1.8 billion private investment vehicle focused on acquiring aircraft portfolios, with CPPIB Credit Investments Inc. as the primary investor.
• SALSA Advisory Program (Structured Aircraft-backed Loans) Structured aircraft-backed loan advisory program providing tailored financing solutions to aviation borrowers.

Quantifiable outcome

• First commercial aircraft ABS issuance in 2025 with $518M AASET 2025-1
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Nine partnerships are on record, tiered core, supporting and major.

• Milbank LLPcoreImplementation/ SI/ Consulting Partner · 19 February 2025Issuer counsel for AASET 2025-1 Trust transaction.
• Phoenix AmericansupportingTechnology or Integration · 19 February 2025Managing agent for AASET 2025-1 Trust transaction.
• Wizz AirmajorStrategic or Co-development Partner · 14 June 2023$280M pre-delivery payment (PDP) financing facility for Wizz Air's A321neo aircraft deliveries during 2023 and 2024. The facility supports Wizz Air's growth strategy and commitment to lowest cost operations.
• Maverick Aviation Partnership LPmajorStrategic or Co-development Partner · 23 December 2021Investment vehicle managed by Carlyle Aviation Partners acquiring AMCK Aviation's portfolio of 125 primarily narrowbody aircraft and order book of 20 A320/321 neo aircraft.
• AMCK AviationmajorStrategic or Co-development Partner · 23 December 2021Acquired portfolio of 125 primarily narrowbody aircraft and 20 A320/321 neo aircraft order book. AMCK is headquartered in Dublin with offices in Tokyo and Irvine, California.
• Fly LeasingcoreStrategic or Co-development PartnerGlobal aircraft leasing company acquired by Carlyle Aviation Partners for $17.05 per share (~$520M valuation, ~$2.36B enterprise value). Fleet of 84 predominantly mid-life aircraft on lease to diversified airline group.
• BBAM LPsupportingImplementation/ SI/ Consulting PartnerFLY's manager and servicer prior to Carlyle Aviation acquisition.
• Kirkland & EllissupportingImplementation/ SI/ Consulting PartnerLegal counsel for formation of Maverick investment vehicle.
• Kirkland & EllissupportingImplementation/ SI/ Consulting PartnerLegal counsel to Carlyle Aviation Partners for Fly Leasing acquisition.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• AerCap Holdings N.V. AerCap is the world's largest commercial aircraft lessor with over 3,500 aircraft owned, managed or on order. It is the most directly comparable peer to Carlyle Aviation in scale, customer base (global airlines), and capital-markets (ABS) franchise.
• Air Lease Corporation: Air Lease Corporation (NYSE: AL) is a leading commercial aircraft lessor with a fleet of modern, fuel-efficient aircraft leased to airlines in 90+ countries. It competes head-to-head with Carlyle Aviation in new and mid-life aircraft leasing to commercial airlines globally.
• SMBC Aviation Capital: SMBC Aviation Capital is one of the largest aircraft lessors globally, backed by Sumitomo Mitsui Banking Corporation and SMFG. It is comparable to Carlyle Aviation in its combination of large-scale commercial leasing, global airline customer base, and capital-markets access.
• Avolon Aerospace: Avolon is a global aircraft leasing firm headquartered in Dublin, with a fleet of 800+ aircraft serving customers across 60+ countries. Its Irish headquarters and narrowbody-heavy portfolio make it an especially close peer to Carlyle Aviation's Dublin-anchored commercial leasing business.
• BBAM Aircraft Management: BBAM is one of the largest dedicated aircraft management and leasing firms globally. Notably, BBAM was the prior manager/servicer of Fly Leasing before Carlyle Aviation's 2021 acquisition, making BBAM the closest overlap in aircraft investment-management servicing model.
• Aviation Capital Group: Aviation Capital Group is a leading commercial aircraft lessor that originates, manages, and services aircraft portfolios for third-party investors. Its investor-services model directly parallels Carlyle Aviation's SASOF fund management and asset servicing platform.
• Jackson Square Aviation: Jackson Square Aviation is a global commercial aircraft leasing company backed by Mitsubishi HC Capital. It is directly comparable to Carlyle Aviation in leasing modern aircraft to a diversified set of airlines worldwide under multi-year operating leases.
• ORIX Aviation: ORIX Aviation is a leading aircraft leasing and asset management company with a portfolio of 200+ aircraft globally. It competes with Carlyle Aviation in providing commercial aircraft leasing and third-party fleet management services to airlines.
• Dubai Aerospace Enterprise (DAE): DAE is a global aviation services and aircraft leasing company with a fleet of 400+ aircraft headquartered in Dubai. Comparable to Carlyle Aviation in providing commercial aircraft leasing, fleet management, and capital-markets services to airlines worldwide.
• Nordic Aviation Capital: Nordic Aviation Capital is a leading regional aircraft lessor with a portfolio of 500+ turboprops and regional jets. It is comparable to Carlyle Aviation in business model (aircraft leasing + asset management) and complementary in segment focus on mid-life and end-of-life aircraft.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/apollo-aviation-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Apollo Aviation Group