Market Intelligence: North America

US Airline Announces 2024 Appointment for CEO

Allegiant Travel Company announced recently that Gregory C. Anderson has been named CEO and President of the Company succeeding Maurice J. Gallagher, who will be retiring from that role effective September 1. Gallagher will continue to serve the Company as Executive Chairman of the Board. Anderson will join the Board at that time.

“On behalf of the board of directors, I’m thrilled to announce Greg as Allegiant’s CEO,” Gallagher said. “After working closely with him for the past 15 years, I have first-hand knowledge of his phenomenal leadership skills, business acumen, industry knowledge and work ethic that make him well-prepared to take on these added responsibilities. He’s incredibly well-respected within the Company and throughout the industry. In many ways, he’s already doing the job. It’s time to make it official. Our ability to internally grow talent such as Greg and his team is a core strength of our company.”

Anderson joined Allegiant in 2010 and steadily rose through the management ranks. He has held several leadership positions during his tenure, including previously serving as chief financial officer and was instrumental in steering the Company through the pandemic, one of the most financially challenging times in the history of the airline industry.

Under his current role as president, Anderson has continued to lead the team to a position as one of the top airlines in the industry, excelling in financial and operational performance along with customer satisfaction. The company has received numerous industry accolades for performance and customer experience.

Prior to joining Allegiant, Anderson worked for U.S. Airways and Ernst and Young, where his primary focus was the commercial aviation sector.

“I’m honored and humbled to serve as Allegiant’s next CEO,” Anderson said. “I’ve had the great fortune to be mentored over many years by one of the most respected innovators and CEOs in the airline industry, Maury Gallagher. He has shown me the importance of thinking like an owner and how our team members are the foundation of our success. Each day, they bring their best to the table, turning challenges into opportunities. As CEO, I look forward to extending Allegiant’s success and serving with the same level of passion and dedication they bring to become better every day.”

Under Gallagher’s leadership, Allegiant adopted a unique business model that has differentiated itself in the U.S. aviation market, offering leisure consumers nonstop flights at industry-low fares.

“As Allegiant’s founder, largest individual shareholder and CEO for nearly 25 years, I have as much interest as anyone in the future of this amazing Company,” Gallagher said. “I have complete confidence with Greg at the helm and I know he will continue to build on our success.”

Source:  Allegiant

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US Flight School Epic Flight Academy Welcomes Over 20 New Flight Students in July 2024

Florida, United States-headquartered flight and aircraft maintenance training group Epic Flight Academy welcomed over 20 new flight students in July 2024.

The strength of enrolments supports Epic’s expansion with Epic in July holding the grand opening of its newest flight school location at the Herlong Recreational Airport in Jacksonville, Florida. This is Epic’s fifth flight school, with other locations in Ocala, Tallahassee, New Smyrna Beach, and Tucson.

Epic Flight Academy is headquartered in New Smyrna Beach, Florida with locations across the U.S. The company was founded in 1999 and provides FAA-approved flight training and aircraft mechanic training.

Source: Epic Flight Academy
Photo Credit: Epic Flight Academy

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Flight Training Financing Provider Stratus Financial Announces 2024 Appointment for Chief Investment Officer

Stratus Financial LLC, a super-prime consumer finance platform dedicated to providing student loans for aspiring pilots, is thrilled to announce the promotion of Alan Rios to Chief Investment Officer. This advancement follows Chris Ragland’s transition to a Principal role within the firm—a strategic evolution that had been in the planning and reflects his ongoing commitment to supporting the firm’s growth from an advisory capacity.
 
“Alan’s contributions have been critical in evolving Stratus Financial’s approach to attracting institutional capital, and I am confident that his leadership will drive the firm toward new heights of success,” said Ragland.

With a background in institutional and private banking and a strong track record from his previous role within Citigroup’s North America Family Office Group, Alan Rios has been instrumental in building new institutional banking relationships, managing investor relations and elevating the firm’s fund offering to appeal to larger, sophisticated investors. His promotion to Chief Investment Officer reflects his impressive performance and the strategic impact he has made in a short period.

“I am excited about welcoming Alan in his promotion to CIO for Stratus Financial,” said Anthony Geraci, CEO of Stratus financial. “His commitment to excellence and working with our capital markets partners to achieve united goals will continue to propel Stratus forward and continue to make it the #1 choice for students aspiring to become airline pilots.”

“I am honored to step into the role of Chief Investment Officer at Stratus Financial. Chris’ support through this transition has been instrumental, and I am excited to continue building on the solid foundation he has established,” said Rios. “We are on the cusp of significant growth, and I look forward to guiding our firm through this exciting phase.”

Stratus Financial is set to experience tremendous growth in its retail investment and capital markets efforts with Alan Rios leading the charge as Chief Investment Officer. The firm remains committed to leveraging its expertise and strategic capabilities to attract and manage institutional capital, furthering its mission to support the aviation education sector.
Source: Stratus Financial
Photo Credit: Stratus Financial

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Flight Training Financing Provider Stratus Financial Announces New Up to $50 Million Forward Flow Facility

Stratus Financial LLC, a trusted consumer finance platform committed to providing student loans to aspiring student pilots at all levels of experience, announced a forward flow facility of up to $50 million from funds managed by Monachil Capital Partners LP (“Monachil”). Stratus intends to use the new financing to originate new student loans, further diversifying its existing base of capital providers. The new financing partnership includes an initial sale of Stratus’ existing portfolio of loans and will primarily support the origination of new loans.

“This level of partnership with Monachil Capital Partners represents a significant milestone in the evolution of our capital markets strategies. This partnership not only underscores the growing sophistication of our approach but also reflects our commitment to fostering institutional relationships that drive our mission forward,” said Alan Rios, Chief Investment Officer at Stratus.

“Stratus has built an impressive origination and servicing platform serving a highly-attractive niche in consumer lending. Stratus has a unique business model and generates attractive assets in an underserved market, providing much-needed solutions to consumers,” said Jacob Zeldin, Portfolio Manager at Monachil. “We believe strongly in the Company’s mission and look forward to supporting its growth plans with this new partnership.”

“This new financing agreement with Monachil Capital Partners aligns Stratus with a capital partner that shares our vision and enhances our ability to deliver impactful solutions to the aviation education market,” said Anthony Geraci, CEO and Co-Founder of Stratus. “Monachil has proven to be a valuable partner, demonstrating a deep understanding of our business and values. We are excited to build this partnership and continuing to provide our borrowers with a seamless and exceptional lending experience.”

“This new round of funding will empower more aspiring aviators to earn their wings in 2024, solidifying Stratus’ position as the premier provider of flight training financing,” said Brandon Martini, COO and Co-Founder of Stratus. The Monachil partnership supports future growth at Stratus, which since inception, has originated more than 600 loans and is currently working with more than 260 FAA-chartered flight schools throughout North America. Stratus has also been recognized for its particular focus on super-prime borrowers giving the Company an edge over other consumer finance strategies. Edgar Matthews & Co. LLC served as exclusive financial advisor to Stratus on the transaction.

About Monachil
Founded in 2019, Monachil Capital Partners LP is a Greenwich, CT based private credit manager focused on opportunistic investing. The firm specializes in providing bespoke funding to global lending and tech-enabled platforms that operate in the alternative lending space and are participating in the disintermediation of the traditional banking complex. Monachil leverages proprietary technology to create an interface with borrowers’ platforms, enabling the consumption of real-time data and allowing for the active management of inherent risks.

About Stratus Financial
Founded in 2020 by FAA Certified Flight and Ground Instructors who are passionate about helping others achieve their dreams of flight, Stratus is a consumer finance platform providing flexible and innovative educational funding solutions to students pursuing aviation education and training. Stratus is fully geared to marry Student Success and School Success with several programs designed for Flight Schools, by Flight Schools and is on a mission to help aspiring pilots achieve their flight dreams as swiftly as possible through hassle-free flight school loan programs.

Source: Stratus Financial
Photo Credit: Stratus Financial

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