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777 Partners in talks with Boeing, ATR over new jet order

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U.S. private equity firm 777 Partners has said it is in talks with Boeing and Franco-Italian turboprop maker ATR over a new jet order, as it looks to enter more markets amid a boom in air travel.

“We’ve been in discussions with the (aircraft) manufacturers. I think right now the big issue with ordering jets is when you’re going to receive them,” 777 Managing Partner Josh Wander told Reuters in an interview on Thursday, without disclosing specific numbers.

The talks come amid a rush for planes by airlines eager to tap into a greater-than-expected recovery in air travel.

→ Boeing forecasts demand for 42,595 new Commercial Jets over next 20 years

“Partners 777 is in discussions with ATR on an additional opportunity that includes aircraft, technology and airline services and if firmed up would put the committed aircraft purchase agreements into the triple digits,” the firm said in a statement.

Wander said the company is also looking at investments in Asia and South America and is close to striking a deal to invest in a South African carrier, whose name he did not reveal.

Partners 777’s business model involves buying jets and leasing them to airlines which it backs, such as Canadian low-cost carrier Flair Airlines and Australian airline Bonza.

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