Denver, COLORADO, November 4, 2024 — Crestone Air Partners, Inc. (CAP), a full-service aviation asset management platform is pleased to announce the acquisition of one B737- 800 from a securitization managed by Castlelake, on lease with MIAT Mongolian Airlines.

This marks the first transaction between Crestone and Castlelake.

Steve Williamson, Principal, Head of Trading at Crestone, states “We are pleased to have completed our first transaction with Castlelake and hope that it is the first of many going forward. Their team was professional, attentive, and collaborative, working with us to move past any obstacles that we faced in a pragmatic fashion.”

The aircraft was funded through a combination of equity from Mill Road Capital and Air T, Inc., with debt from Ashland Place Finance. This marked Crestone’s third financing with Ashland Place, with the last being an aircraft facility comprised of three B737-800SFs.

Kevin Milligan, Crestone’s Chief Executive Officer, states, “Working with the dedicated and sophisticated Ashland Place team on another successful transaction has been a pleasure. Crestone remains committed to investing in the narrowbody sector and is delighted to have such reliable partners to facilitate these efforts.”

Jennifer Villa, Executive Director and Group Head of Ashland Place, adds, “We are thrilled to continue our partnership with Crestone on this latest transaction. We look forward to supporting the Crestone team’s future investment opportunities.”

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