Stellwagen Appoints COO; Plans to Launch Initial Capital Raise of $1 Billion in Q4 2016

The Board of Directors of Stellwagen Finance Company, the holding company of Dublin-based Aviation Finance Company and Seraph Aviation Management (the Stellwagen Group), has appointed Howard Millar as Chief Operating Officer of the Stellwagen Group.

Howard will also serve as Chief Executive Officer of Stellwagen Capital a newly formed subsidiary of the company.

Howard is the former Deputy Chief Executive and Chief Financial Officer of Ryanair Holdings where he served in a number of senior roles for over 23 years. Howard is currently a Non-Executive Director of Ryanair Holdings plc.

"I can think of no better person to lead our team of investment professionals than Howard Millar. He brings game changing ability to the group with 23 years' experience in aviation, including raising capital in the public and debt markets, using a range of financial products, while propelling Ryanair to become the largest and most profitable airline in Europe," said Douglas Brennan, CEO of the Group. "Howard will work closely with me as COO to drive the operating and financial performance of the Group. As CEO of our new subsidiary Stellwagen Capital, Howard will lead this innovative financing vehicle in raising capital from both the debt markets and from large institutional investors mainly, in Europe and the US. This capital will enable the group to provide secured aircraft financing to airlines across the globe. This is a big step forward in the evolution of the group and we expect Stellwagen Capital to launch its initial capital raise of $1 billion in Q4 2016."

Howard said, "I am delighted to join the Stellwagen Group and its team of leading aviation professionals. I am looking forward to my role as Group COO and I will focus on driving the business forward by further profitably growing each of our business units and making the Stellwagen Group a major force in global aviation finance ... As CEO of the newly formed Stellwagen Capital I believe there is a great opportunity to raise significant amounts of capital to finance the world's growing fleet of aircraft. The initial capital raise of $1 billion is slated for Q4 2016, and we expect to raise up to $5 billion over the next three years. We will use innovative and highly efficient structures to raise capital for secured financing of both new and delivered aircraft, and generate significant returns for our investors. The leveraging of my own and the group's outstanding aircraft financing knowledge and experience will have a transformational impact on the industry."

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