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Thora leases helicopters for upstate New York
A fund from Thora Capital was used to acquire two helicopters, one from Aviation Services Unlimited in a sale-leaseback arrangement and the other imported from Canada. Both will be leased to ASU for seven years.

Chicago-based asset manager Thora Capital has closed its second transaction with the acquisition of two utility helicopters to be placed on a long-term lease with Uniflight Global Flight Services, based in Grand Prairie, Texas. The helicopters will be operated by Aviation Services Unlimited (ASU) in Rome, New York. The helicopters operate in upstate New York and New England, servicing long-term contracts with regional power companies, primarily focusing on electrical grid infrastructure.

“We are delighted to be able to provide this financing to Uniflight Global in support of their growth in the utility space. This deal also provides Thora with further diversification of aircraft and mission type as we continue to expand our portfolio,” says Thora MD Russell Christopher.

The fund acquired the two helicopters, one from ASU in a sale-leaseback arrangement and the other imported from Canada. Both aircraft will be leased to ASU for seven years.

“With the importation of an aircraft from outside of the USA, this demonstrates our ability to manage the various aspects of an international transaction,” continues Russell Christopher. “We have a significant number of additional aircraft currently under LOI, including additional international deals, which we plan to execute in the very near term.”

Thora Capital has also announced the final closing for its first fund, Thora Capital Fund I, LP. The Fund's limited partners include family offices, high net worth individuals, RIAs, and the leading independent provider of maintenance support and financial services to the aviation industry.

“We sincerely appreciate the trust placed in us by our investment partners,” comments CEO Matthew Rothschild. “With $50 million of capital commitments and co-investment assets under management, Thora is well-positioned to support the financing needs of the industry during this period of elevated demand for creative capital solutions.”

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