June 29 (Reuters) - AIP Capital said it was in talks to pick up a 10% stake in Eastar Jet as the aviation asset management arm of U.S.-based private equity firm 777 Partners seeks to tap into the travel resurgence in Asia.
AIP would also lease five Boeing 737 MAX 8 jets to the South Korean low-cost airline, it said without disclosing the additional terms of the deal, which is expected to close mid-July.
In 2021, Eastar Jet had filed for court receivership as the COVID-19 pandemic battered the travel industry.
Earlier this year, South Korean private equity firm VIG Partners bought the airline and agreed to inject 100 billion Korean Won ($75.98 million) into the carrier, according to a DealStreet report.
Separately, AIP announced that it has closed a minority investment and joint venture agreement with consulting and investment firm Dreamstone Aviation Partners.
Persons:
Eastar Jet, Jared Ailstock, 1,316.2100, Abhijith, Shilpi Majumdar
Organizations:
AIP, Jet, Partners, Boeing, South, VIG Partners, Won, Dreamstone Aviation Partners, Thomson
Locations:
U.S, Asia, Dreamstone, Bengaluru