A Macquarie Bank subsidiary has entered into an agreement to acquire an aircraft operating lease portfolio from AWAS Aviation Capital Limited.
In a statement to the ASX, Macquarie Group said the portfolio will be a part of Macquarie AirFinance, the aircraft operating lease division of its corporate and asset finance group.
“The portfolio comprises 90 modern, current-generation commercial passenger aircraft leased to 40 airlines,” the statement from Macquarie said.
“The purchase price for the 90 aircraft is US$4 [AU$5.12] billion (subject to adjustments). The capital requirement for this transaction is expected to be [AU]$0.6 billion.
“The acquisition will be funded from existing funding sources combined with third-party financing arrangements and the capital raising announced today,” it said.
Commenting on the acquisition, Macquarie head of transportation finance Stephen Cook said the transaction will allow the company to acquire “high quality assets”.
“It complements our existing aircraft leasing portfolio and diversifies our client base,” Mr Cook said.
“In the many years that Macquarie has been active in aircraft leasing, we have been privileged to work with some of the world’s leading airlines."
Also commenting, Macquarie Group chief executive Nicholas Moore said it will build on the “strong growth” of the company’s corporate and asset finance business and the ongoing investment in its annuity-style businesses.
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