Industry Addendum: Leasing
AerCap sells more aircraft to Saudi bank subsidiary
October 1st 2019
Dublin-based lessor, AerCap, is selling a 19-aircraft portfolio to an Irish company, Dara Aviation, which is owned by NCB Capital. Read More » NCB Capital has US$40 million in assets under management and is the brokerage arm of Saudi Arabia’s largest bank, the National Commercial Bank.
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AerCap said the 19 airplanes would be a mix of narrow and wide body aircraft. Dara has appointed AerCap to provide lease management services for the portfolio that will include aircraft technical management, lease administration and marketing.
AerCap CEO, Aengus Kelly, said: “with this sale, AerCap will have sold or contracted to sell approximately US$1.4 billion in mid-life assets to NCB since 2017.”
Two years ago, NCB Capital acquired its first aircraft portfolio from AerCap, a fleet of 21 planes that AerCap also is servicing for the Saudi company. At mid-year, AerCap had a portfolio 1, 373 owned, managed or on order aircraft, valued at $43.1 billion.
