News — 2019

SMBC Aviation Capital concludes portfolio sale of 29 aircraft

12/11/2019

SMBC Aviation Capital, one of the world's largest aircraft leasing companies has today announced the conclusion of a portfolio sale of 29 aircraft. The sale was concluded on behalf of Airspeed, an aircraft securitisation which has been managed by SMBC Aviation Capital since 2007. The transaction involved the sale of 28 aircraft to aircraft leasing company, Genesis, with one additional aircraft sold to an undisclosed investor.

The aircraft have been sold from SMBC Aviation Capital's managed fleet and comprised a range of asset types on lease to over 20 airlines.

Peter Barrett, CEO, SMBC Aviation Capital commented, "As a company, this is what we do best, from the original sale of the portfolio to Airspeed, managing a large portfolio of diverse aircraft with many different airlines over a twelve year timeframe and now concluding its sale. Airspeed has been a long-term customer for us and we have valued this relationship. There were many stakeholders involved in this process which demonstrates our ability to manage complex transactions. In addition, Genesis is an important customer and we acknowledge their close collaboration on this transaction."

Karl Griffin, CEO, Genesis added, "The acquisition of the 28 aircraft from Airspeed is an excellent investment for Genesis, delivering on our strategy as well as adding scale and diversification to our aircraft leasing portfolio. The SMBC Aviation Capital team has played a world class role in managing the Airspeed portfolio since 2007 and, in particular, during the final stages of transferring each aircraft to Genesis."

Media Enquiries:

Conor Irwin/Orla Benson
SMBC Aviation Capital

+353 1 859 9425
+353 1 859 9067
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Charles O'Brien
Partner
Finsbury

+44 0 7825 043 656

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