SMBC Aviation Capital concludes portfolio sale of 29 aircraft:
13 November 2019: SMBC Aviation Capital has concluded 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. Twenty eight aircraft were sold to aircraft leasing company called Genesis with one additional aircraft sold to an undisclosed investor.
The aircraft have been sold from SMBC Aviation Capital's managed fleet and consists of a range of asset types on lease to over 20 airlines.
Peter Barrett, CEO, SMBC Aviation Capital said, "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 said, "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."
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