VMIC, led by CEO Colin Nam, announced on the 23rd that it has successfully extended the lease and completed refinancing for a B777-300ER aircraft owned by a domestic institution and leased to Emirates. VMIC, Korea’s sole aviation asset management firm, managed the entire process, marking a significant achievement as the first Korea-based company to accomplish both a lease extension and refinancing for an aircraft. This milestone has attracted considerable attention from investors involved in the project.The company highlighted that the decision to extend the lease, rather than divest the aircraft, was driven by the aviation sector's robust recovery post-COVID and the increasing demand for the B777-300ER model. The lease extension ensures future cash flow, and the aircraft’s assessed value further justified the strategic refinancing move.Aircraft asset managers play a pivotal role beyond ensuring airline compliance with leasing agreements. Their responsibilities include managing assets on behalf of investors, safeguarding asset value, and developing exit strategies and operational plans to maximize returns.Since 2014, Korean institutional investors have actively invested in various aircraft; however, due to a lack of domestic expertise, they have traditionally relied on foreign firms for lease management. VMIC’s success in pioneering this area has drawn substantial interest within the industry.Colin Nam, CEO of VMIC, expressed his pride in the accomplishment, stating, "This achievement demonstrates VMIC’s capabilities in the global leasing market." He added, "As Korea’s only aviation asset manager, we aim to further enhance the industry by providing high-quality services to local institutions, enabling them to navigate challenges effectively and optimize their asset management strategies."

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