RE:RE:RE:National Bank Maintain Outperform Rating Ahead of Q4 ResultsRight, Falko was a complete change in their business model and how they finance the acquisition of aircraft. Chorus would borrow tons of debt and just buy the planes and lease out.
With Falko, they were doing funds and getting together investors as well as contributing their own money into it.. which allows them to leverage and they earn management fees on the total fund in addition to performance fees if they earn the investors of the funds good returns. This also means they can acquire airplanes with far less leverage than they did previously.
They've been talking about this specific fund for a while now and the craziness of 2022 delayed things a bit.. but there's probably lots of private equity dry powder out there ready to deploy capital and a Falko fund would be a good use of their money.