Amur Finance Company, Inc. (AFC) announced that the company has entered into a 50/50 joint venture between AFC and the owners of Jet Midwest, Inc., to form Amur JMW Aviation, LLC (AJMWA). As a culmination of a mutually beneficial relationship, AJMWA will combine the technical expertise currently offered by Jet Midwest with the financial expertise offered by Amur Finance Company -- providing efficient fleet solutions through a network of partner companies. Mostafiz ShahMohammed, founder and CEO of AFC, and Paul Kraus, founder and CEO of Jet Midwest, will serve as Co-Chairs of the Board for the newly formed AJMWA.
Mr. Kraus, Jet Midwest CEO, said, "The formation of AJMWA will provide customers with an unprecedented level of financial and technical sophistication that is currently underserved in the marketplace."
AJMWA will focus on working with customers to develop appropriate solutions which determine the best course of action for mid-life and older commercial jets. These solutions will range from follow on lease arrangements to effectively transferring an aircraft to the part-out stage.
AFC CEO, Mr. ShahMohammed added, "Our perspective is to approach each business decision expeditiously yet with a long term vision, thereby offering highly responsive and innovative solutions which fully serve our clients' needs."
The individual companies will continue to operate their respective businesses, with all aircraft leasing for both companies now administered by AJMWA. Moving forward, this arrangement will offer the global marketplace with truly customer driven and adaptable fleet solutions.
Amur Finance Company, Inc. is a privately held, diversified commercial finance company focusing on the global transportation, industrial and equipment leasing sectors. With over $60 billion of aviation-related finance, trading and investment transactions, the management team has been directly involved in over 350 fixed wing and rotor aircraft transactions around the world. Amur Finance Company, Inc. takes a partnership approach to its investments, providing long-term value through joint ventures and strategic arrangements with world-class entrepreneurs in each industry sector. Aviation is one of Amur Finance Company's core industries, and in partnership with its affiliates and portfolio companies -- Amur Helicopter Financial Services LLC (Amur HFS), Amur JMW Aviation LLC (AJMWA), Jet Midwest Inc., and Diversified Aero Services Inc. (DASI) -- Amur Finance Company offers one of the broadest ranges of services to the aviation industry.