Airplane leasing world shrinks with $7.4 billion takeover of Air Lease
The Airbus A321 is mounted on the hangar of Alabama’s latest assembly line at the Airbus US production facility in Mobile.
Michael Spoeybarger | Reuters
Airplane rental company Air rentalEstablished by industry Mogul Steven Udvar-Házy, he agreed to sell him with an agreement that would lead to a group of investors who led to more consolidation in aircraft rental business.
The planned purchase, which was planned on Tuesday, was directed by Japan’s Sumitomo and SMBC aviation capital and also includes asset managers Apollo and Brookfield. The shareholders in the Los Angeles -based Air Lease would receive $ 65 per share and will receive about 8% premium until Friday. Investors, including the debt, value the company worth approximately 28.2 billion dollars.
Kiros rented aircraft to aircraft, helping these carriers protect the money they need to use to buy aircraft that can cost more than $ 100 million in list prices. In recent years, the shortage of airplanes, which has been guided by the pandemi, supply chain problems and other slowdowns, has forced rent rates to records of both new and old models.
According to the aviation consultancy company IBA Group, the aircraft rental work, which has more than half of the world’s passenger jets fleet, has now become a 58% share of 51% ownership in 2009. He didn’t see any more growth because some large airlines became snowy and allowed them to have most of their planes.
Iba Group Chief Economist Stuart Hatcher, “No more cash foreigners to these men.” He said.
At the same time, many airlines are re -thinking of capacity plans, as many airlines are weighed on the excessive supply of flights, wages and defeated in their profits this year. At the end, on Friday, Spirit Airlines, for the first time, could not make major changes and appeared with a decrease in high costs and demand for the second time for the second bankruptcy protection.
The Alma-President agreement underlines a wave of consolidation in the industry and will help companies enlarge their scale. Air Lease ended with 495 aircraft in the fleet with the second quarter.
Air Lease, including the accumulated work, renters the fifth largest aircraft, according to a gang of IBA. The parties are waiting for the agreement to close in the first half of 2026. The new company will be in Dublin.
Iba’s Hatcher, “It makes sense when you think about it … The cheapest way to get market growth.” He said.
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Air rental purchase is the last of the agreement.
General Electric Airplane Rent Sold the Rental to the Rentor No. 1 Aercap In 2021, as Konglomera, he returned units to focus on large enterprises such as aircraft engine production.
Two years ago, Standard Chartered agreed to sell aircraft rental to Avilease, owned by Saudi Arabia’s Sovereign Asset Fund.
Steven Udvar-Hazy, the president of Air Lease Corp., takes a photo after talking at a lunch at an aviation club in London on 13 September 2018.
Simon Dawson | Bloomberg | Getty Images
Udvar-Házy, who is generally called the “Baptist Father of Baptism” of the aviation rental, worked closely with Air Lease CEO John Plueger and founded Air Lease.
Udvar-Házy said in a statement on Tuesday, “Since the air renting in 2010, we do not change in our duty to shape the future of the aviation industry and access the most modern, fuel-saving planes to the airlines around the world.” He said.
In the late 1950s, Udvar-Házy fled Soviet Hungary with his family and had a lifetime of aviation love and was often loan to create aircraft rental. Later, he founded the previous leasing company known as ILFC in 1973 and was later sold to AIG. He continued to manage until 2010 and announced that he retired from the air rental last March.
