02 May 2025
#1 May 2025: North American Aviation Newsletter
Aviation Capital Group Restructures OEM Engagement Platform
Aviation Capital Group (ACG) has announced a strategic realignment of its Original Equipment Manufacturing (OEM) team, elevating Tom Habelmann to Head of OEM Operations and Helen Zhu to AVP, OEM Strategy & Counsel. The broader OEM interface will now be co-led by Chief Commercial Officer Carter White and Chief Investment Officer Rob Downes, enhancing coordination between commercial engagement, investment strategy, and aircraft sourcing. CEO Thomas Baker stated the restructuring supports ACG’s strategic growth and operational efficiency goals, while recognising Habelmann and Zhu’s leadership in executing OEM operations over several years.
SKY Leasing Closes $1.35 Billion for Flagship Fund, Invests in 62 Aircraft
SKY Leasing has announced the final close of SKY Fund VI, L.P., securing over $1.35 billion in capital commitments, significantly exceeding its original target. The fund has already committed $600 million towards the acquisition of 62 aircraft, underlining investor confidence in SKY’s active origination and portfolio construction strategy. CEO Austin Wiley credited the success to investor trust in SKY’s ability to support airline partners during the fleet transition to new-technology aircraft, particularly amid tightening capital markets and rising aircraft demand. Backers include global insurers, sovereign wealth funds, pensions, and endowments, reflecting SKY’s growing institutional appeal.
United Airlines Invests in JetZero’s Blended Wing Aircraft Design
United Airlines has made a strategic investment in JetZero, a U.S. start-up developing a blended wing body (BWB) aircraft that could cut fuel burn by up to 50% per passenger mile. The deal includes purchase rights for up to 100 aircraft, with an option for an additional 100, subject to performance and regulatory milestones, including the successful flight of a full-scale demonstrator by 2027. JetZero’s novel design, which generates lift across the entire airframe, promises both fuel efficiency and a reimagined cabin experience. Andrew Chang, Head of United Airlines Ventures, said JetZero aligns with the airline’s dual priorities of innovation and decarbonisation.
Acumen’s Take
On ACG’s OEM Team Restructuring
ACG’s move to streamline OEM engagement reflects a broader trend toward integrated sourcing and investment strategy alignment, especially as lessors double down on orderbook optimisation. Habelmann and Zhu’s elevation reinforces ACG’s internal talent development ethos, while ensuring it remains agile in aircraft sourcing and manufacturer relations.
On SKY Leasing’s $1.35 Billion Fund Close
The oversubscribed close of SKY Fund VI underscores the renewed strength of aircraft investment as an asset class, particularly in the mid-life and new-technology segments. SKY’s deployment of over $600 million in aircraft already demonstrates a nimble, demand-driven strategy, critical as airlines seek to modernise amid supply chain constraints.
On United’s JetZero Investment
United’s investment in JetZero represents a bold bet on aircraft innovation and a strong signal that alternative airframe designs are gaining serious industry traction. While BWB aircraft face technical and certification hurdles, their potential for dramatic fuel savings and improved passenger comfort could make them game-changers. Acumen sees this as a future-focused move aligning with United’s long-term decarbonisation and customer experience goals.
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