NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Effective March 31, 2017, Aviation Capital Group Corp. converted its form of entity from a Delaware corporation to a Delaware limited liability company (LLC). Aviation Capital Group Corp. is now doing business under its updated name, Aviation Capital Group LLC (ACG), a Delaware LLC.
“The conversion to an LLC structure increases our equity base, thereby strengthening our balance sheet and allowing us to continue to grow and execute on our business plan, while at the same time providing a more tax efficient structure for our parent, Pacific Life,” said Mr. Khanh T. Tran, CEO of ACG.
The conversion preserves intact in ACG all of its rights, privileges, powers, properties and assets, as well as all of its debts, liabilities, obligations and duties under contract or otherwise, enforceable unimpaired and unaffected by the change in form to a LLC. The conversion does not give rise to any assignment or transfer. Notwithstanding the change in its organizational form, the existing entity ACG remains, and has continuously remained, in existence.
About Aviation Capital Group
Aviation Capital Group is one of the world’s premier full service aircraft asset managers with approximately 413 owned, managed and committed aircraft, which are leased to approximately 100 airlines in approximately 45 countries. ACG was founded in 1989 and is a wholly owned subsidiary of Pacific Life Insurance Company.