10 Jul 2025
#2 July 2025: North American Aviation Newsletter
Air T Expands Financing Agreement to $100 Million with Institutional Investors
Air T, Inc. has significantly expanded its financing arrangement through a revised agreement with its existing institutional investors. The total value of the deal—linked to subsidiary AAM 24-1, LLC—has been increased from $30 million to $100 million, while also extending repayment timelines and bolstering financial flexibility. The revised terms are expected to provide robust capital support for the company’s strategic ambitions, including the continued growth of Crestone Air Partners and other Air T subsidiaries.
Nick Swenson, Chairman and CEO of Air T, commented:
“This modified financing structure significantly enhances our capital flexibility and allows us to pursue long-term value creation with greater certainty… a continued vote of confidence by a sophisticated capital partner.”
Aviation Capital Group Appoints Cronan Enright as Head of Strategy
Aviation Capital Group (ACG) has appointed Cronan Enright to the newly created position of Head of Strategy. Enright brings over 20 years of experience spanning leadership roles across the aviation value chain. Based in ACG’s Dublin office, he will report directly to Chief Investment Officer Rob Downes and will play a central role in shaping ACG’s long-term investment and portfolio optimisation strategies.
Rob Downes, CIO of ACG, said:
“Cronan’s experience will be critical to delivering on our ambitious growth strategy, and to the optimization of our portfolio as we continue to build an ever stronger, more competitive business.”
Boeing Announces CFO Transition, Names Jay Malave as Successor
Boeing has announced that Brian West will transition out of his role as Chief Financial Officer and into a new advisory capacity as Senior Advisor to President and CEO Kelly Ortberg. Stepping into the CFO role is Jesus “Jay” Malave, who will officially assume the position of Executive Vice President and CFO on 15 August 2025. West’s four-year tenure included pivotal contributions to Boeing’s capital restructuring and its broader recovery journey.
Kelly Ortberg, President and CEO of Boeing, remarked:
“Brian successfully guided us through last year’s historic capital raise and ensured our team always had the resources to continue the critical work to strengthen safety and quality across our operations. I look forward to his continued counsel.”
Acumen’s Take
On Air T’s Expanded Financing Agreement
The tripling of Air T’s credit facility reflects both the strength of its relationships with institutional investors and the confidence in its diversified aviation strategy. It provides a stable capital base for scaling its leasing and cargo ventures in an increasingly competitive market.
On ACG’s Strategic Appointment
By formalising a Head of Strategy role and tapping into Cronan Enright’s deep aviation experience, ACG is signalling a proactive push towards smarter capital deployment, enhanced portfolio agility, and longer-term growth. This aligns with wider industry trends toward strategic restructuring.
On Boeing’s CFO Transition
The leadership transition at Boeing comes at a critical juncture. With Jay Malave stepping in, the company may pursue a more aggressive realignment of its financial structure. Brian West’s continued advisory presence ensures stability during this shift, which will be closely watched by analysts and shareholders alike.
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