Chicago-based Thora Capital is entering the battered helicopter finance market with an initial $50 million in capital commitments.
To date, the company has closed two transactions, the most recent a placement of two utility helicopters on long-term lease with Uniflight Global Flight Services of Grand Prairie, Texas. The helicopters will be operated by Aviation Services Unlimited (ASU) in Rome, New York.
Thora acquired one of the helicopters from ASU via sale-leaseback and imported the other from Canada. Leases on both run for seven years. ASU will operate the aircraft in upstate New York and New England on long-term contracts with regional power companies, primarily focusing on electrical grid infrastructure.
“Thora is well positioned to support the financing needs of the industry during this period of elevated demand for creative capital solutions,” said company CEO Matthew Rothschild. Thora is financed by limited partners, including family offices, high-net-worth individuals, and registered investment advisors. Company services include financing, asset and portfolio management, and asset disposal and divestment execution.