AerSale to buy back shares, board member steps down

DORAL, Fla. - AerSale Corporation (NASDAQ:ASLE), a provider of aviation products and services, has announced a definitive agreement to repurchase approximately 6.428 million of its shares from Leonard Green & Partners, L.P. The buyback, at $7.00 per share, is set to reduce the company’s outstanding shares by around 12% once the transaction is completed around March 18, 2025.

The company also disclosed that Jonathan Seiffer will resign from the Board of Directors effective immediately. Nick Finazzo, CEO of AerSale, expressed appreciation for Seiffer’s 15 years of service and contributions to the company’s growth. Seiffer reflected positively on his tenure and the company’s progress. According to InvestingPro data, AerSale maintains a healthy financial position with a strong current ratio of 3.79 and operates with a moderate debt-to-equity ratio of 0.17.

This share repurchase will be financed using AerSale’s available cash and its revolving credit facility, following an amendment to the company’s credit agreement on March 14, 2025. The company’s strong liquidity position, with liquid assets exceeding short-term obligations, supports this strategic move.

AerSale specializes in aftermarket services for aircraft owners and operators, offering maintenance, repair, and overhaul (MRO) services, as well as aircraft and engine sales and leasing. The company also provides engineered solutions aimed at enhancing aircraft performance.

The information in this article is based on a press release statement from AerSale Corporation.

In other recent news, AerSale Corp reported its fourth-quarter 2024 earnings, posting an earnings per share (EPS) of $0.09, aligning with analyst forecasts. The company exceeded revenue expectations with a total of $94.7 million, surpassing the anticipated $90.74 million. This revenue growth is attributed to a 35.5% increase in sales, excluding whole asset sales, reflecting strong demand for AerSale’s products and services. The company’s adjusted EBITDA saw a significant year-over-year increase of 118%, reaching $13.1 million, driven by improved operational efficiency. AerSale also reported a net income of $2.7 million, contrasting with a net loss of $2.7 million in the same quarter of the previous year. Analyst firms like Truist and RBC Capital have shown interest in AerSale’s strategic direction and financial performance. Looking forward, AerSale anticipates a growth year in 2025, focusing on expanding its lease pool and increasing MRO revenue. The company remains vigilant about potential challenges, such as supply chain constraints and market competition.

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