Phoenix American Financial Services and its subsidiary PAFS Ireland, Ltd (“Phoenix American”) announced solid business and operational progress in 2020, building on the company’s nearly 25-year industry-leading role as provider of managing agent services for asset-backed securitizations (ABS) in the commercial aviation industry.
In February 2020, Phoenix American was appointed as Managing Agent for the AASET 2020-1 ABS and the LUNAR 2020-1 ABS. With the pandemic shutdowns, the company concentrated on maintaining peak service levels for existing clients and enhancing other revenue streams: accounting for sale-leaseback transactions, servicing warehouse facility deals, administering finance transactions and being appointed as Managing Agent to legacy ABS deals, while managing a 10% increase in headcount for the eventual recovery of the ABS industry.
“Providing additional supports and value adds to our clients, as they have worked through the impact of the pandemic is something the team at Phoenix American placed significant focus on,” said John McInerney, Managing Director of PAFS Ireland. “With the continual recruitment and development internally, Phoenix American is perfectly placed to help assist new and existing clients as the aviation industry exits the effects of this pandemic “
In January, 2021, Phoenix American was appointed as Managing Agent for the CLAS 2021-1 ABS, the first ABS transaction to come to market since the pandemic began, clear recognition of Phoenix American’s strength at the center of the ABS marketplace. With this addition, the company now serves entities with over 1400 aircraft and engines having a combined appraised value exceeding $36 billion.
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