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AerSale Announces New Location in Millington, TN

Coral Gables, April 14, 2023 -- AerSale Corporation (NASDAQ: ASLE) (the “Company”), a leading independent provider of aviation products and services, today announced the signing of a lease agreement with the Millington Airport Authority. The Company will occupy an existing aircraft hangar and ramp space in support of a maintenance, repair, and overhaul (MRO) facility at Millington-Memphis Airport. The new AerSale MRO operation will utilize a 112,000 square foot hangar capable of fully housing two narrowbody aircraft with back-shop capability and approximately three acres of ramp space.

“Millington-Memphis Airport is the ideal site for AerSale’s continued expansion. With its central U.S. location and 8,000- foot runway, the facility will be easily accessible for both our customers and the AerSale team. Of even greater importance is the logistical advantage of being close to several major cargo operator hubs and a short drive to AerSale’s parts distribution center in Memphis”, said Nicolas Finazzo, AerSale’s Chief Executive Officer.

The existing facility will undergo a significant remodel, which will include upgrades to the current infrastructure as well as the addition of new office space. Completion is estimated in the first quarter of 2024, at which time the center will accommodate narrow-body maintenance, modification, and heavy MRO activity, as well as wide and narrowbody storage and disassembly. Additionally, the facility will be capable of providing MRO services for structural components and other aircraft components.

“As a global leader in aviation, AerSale’s expansion will help bring world class aviation services to Millington and the greater Memphis area,” said Executive Director Roy Remington. “I am proud of our partnership and congratulate them on this new endeavor, which will enhance their efficiency and ability to support the commercial aircraft industry.”

Once operational, the Millington-Memphis location will be AerSale’s sixth MRO location in the United States and its second location in the state of Tennessee.

About AerSale
AerSale serves airlines operating large jets manufactured by Boeing, Airbus and McDonnell Douglas and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators to realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale’s offerings include: Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed ‘Engineered Solutions’ to enhance aircraft performance and operating economics (e.g. AerSafe™, AerTrak™, and now AerAware™).

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