Former Ryanair finance chief to lead €4.4bn capital raise at Stellwagen

Former Ryanair finance chief and deputy chief executive Howard Millar is to lead a $5bn (€4.4bn) capital raise being undertaken by aircraft services group Stellwagen.

Mr Millar has been appointed chief operating officer of the Stellwagen Group and chief executive of the newly-established Stellwagen Capital; which will act as the group’s chief aircraft financing arm and stand alongside Dublin-based subsidiaries, aircraft management firm Seraph Aviation Management and loan broker Aviation Finance Company.

Stellwagen Capital is aiming to raise $5bn in the next three years and is set to position itself as the leading source of finance for airlines looking to buy aircraft, taking on traditional leasing firms in the process.