18th April 2018:
SMBC Aviation Capital and Genesis Aircraft Services Limited, have today announced the conclusion of the sale of an eight (8) narrow body aircraft portfolio to Genesis
The portfolio is made up of four aircraft from SMBC Aviation Capital's owned fleet, and four from its managed fleet, comprising of narrow body Airbus and Boeing aircraft on lease to 6 airlines.
Michael Weiss, Head of Aircraft Trading, SMBC Aviation Capital commented "We are very pleased to have concluded this deal with Genesis, a long standing customer.This transaction demonstrates our ability to manage deals of scale across our managed and owned fleet."
Cian Mackey, Chief Operating & Financial Officer at Genesis commented, "We are delighted to add these aircraft to our portfolio which is in line with our stated objective which is to expand our aviation platform to create a best-in-class leasing company" .
For more information please contact:
Orla Benson, SMBC Aviation Capital, Mobile: 00 353 86 047 4343
Ben Griffiths/Selene Alford, Powerscourt: +44 7753 464 637 / +353 87 642 8844
Genesis Aircraft Services was established in 2014 by Barings LLC and currently manages a combined portfolio of 59 mainly mid-life narrow body Boeing and Airbus aircraft on behalf of Barings LLC's institutional clients.Genesis is headquartered in Blackrock, Co. Dublin, Ireland.
About SMBC Aviation Capital:
SMBC Aviation Capital is one of the world's leading aircraft lessors, with c. 100 airline customers in 42 countries. At 31 March 2017, the company owns, manages and is committed to purchase 668 aircraft. Established in 2001, the company was acquired in 2012 by a consortium comprising of two of Japan's biggest companies SMFG and Sumitomo Corporation. For further information go to https://www.smbc.aero/