Regional One, a subsidiary of Exchange Income Corporation has completed an agreement to lease ten Bombardier CRJ200 aircraft to SkyWest Airlines.
Beginning in August 2018, Regional One acquired nine CRJ200 aircraft which are now in service with SkyWest. Each of the aircraft is leased to SkyWest for a minimum term of two years, with SkyWest having an option to extend the leases.
The purchase of the tenth aircraft by Regional One is expected to close imminently and the ten aircraft represent approximately 5% of SkyWest’s fleet of CRJ200s.
“We are extremely happy to further strengthen our relationship with SkyWest Airlines, one of the largest regional airlines in North America,” said Hank Gibson, president of Regional One. “SkyWest is a preeminent player in the global regional airline industry, so it is gratifying to be a trusted business partner with them.”
Mike Pyle, CEO of Exchange Income Corporation, commented: “This transaction provides another example of Regional One’s expertise and understanding of the regional airline industry and the narrow-body aircraft utilized by these regional airlines. Hank’s experienced management team identified an opportunity to strategically invest in assets and quickly monetize them, achieving an excellent return on investment.”