Aviation Today - Press Releases -
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Published on: 10/13/2003
Last Visited: 10/14/2003
SAN FRANCISCO, Oct. 13 /PRNewswire/ -- Veteran aircraft industry executive John E. Flynn today announced the formation of World Star Aviation, Ltd., a new aircraft leasing company that purchases, sells and leases commercial aircraft for the international aviation industry.The San Francisco-based company begins operations as manager of a fleet of 58 passenger and freight aircraft leased to 26 airlines in 16 countries.Flynn, who has been President of Triton Aviation Services Limited and is the former Executive Vice President of GE Capital Aviation Services, established World Star with three other members of Triton's senior management -- Sean M. O'Connor, Garreth T. Slevin and Richard L. Zimmerman, all of whom have resigned their positions at Triton.
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"We formed World Star Aviation to take advantage of the unprecedented opportunities provided by the recent turmoil in the airline industry," Flynn said."The current supply-demand imbalance enables us to acquire desirable, high quality aircraft at attractive prices and enhance their value by the experienced, efficient management of leasing operations.Our lean corporate structure and depth of industry experience will permit us to operate with an advantageous aircraft-to-personnel ratio."We are also fortunate to begin operations with the management of Triton's fleet, which provides continuity to our customers and enables us to build on our excellent established relationships with international airlines, aircraft manufacturers, suppliers and investors.We are grateful to Triton for the support and confidence they have placed in our new venture," Flynn said.At World Star Aviation, Flynn will be President and Chief Executive Officer; O'Connor will be Vice President, responsible for leasing and marketing operations; Slevin will be Vice President, responsible for finance activities; and Zimmerman will be Director of Technical Services, responsible for overhauls and maintenance.
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Flynn, 62, has been President of Triton Aviation Services for the past seven years.Prior to establishing Triton's aircraft leasing subsidiary, Flynn served as Executive Vice President of Marketing for GE Capital Aviation Services (GECAS).