GAAM today announced a change to the ownership structure of GAHFL

The restructuring of GAAM and GAHFL involves the following:

• The interests of the remaining non strategic, financial investors (Stark and Oasis) have been acquired through the combination of a selective company buyback, further investment by Greg Woolley's private interests, LJCB Investment Group and a consortium of new investors

• The external Manager of GAHFL has been internalized as a result of the sale of GAAM to GAHFL by Greg Woolley

• The new, approximate shareholdings are Woolley interests (20%), LJCB Investment Group and associated interests (70%) and a consortium of new investors (10%)

• Keybridge Capital's financing arrangements in relation to a part of LJCB's holding, held through Judbury Investments, will remain unchanged

• The principal investors in the new consortium are Greg Woolley, Geoff Dixon, Peter Gregg, David Coe, Mark Carnegie and John Singleton

• Dixon, Gregg, Coe and Carnegie will join Woolley on GAHFL's Advisory Board The Chairman of GAAM, Mr Greg Woolley, said that the GAAM business has performed strongly since it was founded in 2005.

"The GAAM management team has done an outstanding job in securing the business's strong performance during an extremely volatile period in the aviation industry and global financial markets generally," Mr Woolley said.

"The business has been fortunate to have received strong support from its financiers and airline customers. There has not been a single default in the portfolio since its inception. Notably, the portfolio has very limited releasing and refinancing obligations over the next two years," he said.

He said GAAM saw significant opportunities in the global aircraft financing space and that all opportunities would be carefully considered.

"Such strong performance in adverse market conditions augurs particularly well for the performance and growth of the business as market conditions improve," Mr Woolley said.

In relation to the significant investment by the new consortium and the appointment of Messrs Dixon, Gregg, Coe and Carnegie to GAHFL's Advisory Board, Mr Woolley was particularly pleased.

"I have known each of the new investors for a long time, through various business relationships. I am delighted that they have agreed, not only to invest, but also to join GAAM's Advisory Board," he said.

"In addition to their obvious expertise, the members of the Advisory Board have experience with airlines, manufacturers and financiers that are second to none on a global basis. GAAM will benefit from this experience and expertise as the business looks to increase its presence in the global aviation finance market," he said.