SMBC Aviation Capital has concluded a portfolio sale of 29 aircraft, the company’s single largest portfolio sale to date.
The sale was concluded on behalf of Airspeed, an aircraft securitisation which has been managed by SMBC Aviation Capital since 2007 and the transaction involved the sale of 28 aircraft to leasing company, Genesis, with one additional aircraft sold to an undisclosed investor.
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.
Barrett added: “In addition, Genesis is an important customer and we acknowledge their close collaboration on this transaction.”
The aircraft were sold from SMBC Aviation Capital’s managed fleet and comprised a range of asset types on lease to over 20 airlines.
“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,” commented Karl Griffin, CEO, Genesis. “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.”