LetterOne Treasury Services, an international investment business based in Luxembourg, acquired a majority stake in AltitudeOne Aviation, a new company established for the purpose of investing in commercial aircraft on lease to airlines, for $250m. Nitin Bhandari, Head of Direct Investments for L1 Treasury commented: “With the financial support and expertise that we can provide combined with the industry expertise of the Airborne Capital team, we believe that this business can grow rapidly to play a significant role in the market segments it is targeting.”