Intrepid To Double Portfolio With IPO

Aircraft leasing company Intrepid Aviation has filed with US regulators for an initial public offering (IPO) of common stock.

Intrepid is seeking to double the size of its fleet with the proceeds of the IPO, which it hopes will reach $150m.

As of June 30, the company owned 16 aircraft, mostly A330s and 777s, with a net book value of about $1.7bn.

Intrepid's rental income rose from $9.4m to $73.2m for the six months ending June 30, but its net loss increased from $3.2m to $4.8m in that time. 

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