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Aircraft lessor SMBC Aviation nears $7 billion deal for rival Goshawk, sources say

Published 05/13/2022, 08:39 PM
Updated 05/13/2022, 09:15 PM
© Reuters. FILE PHOTO: SMBC Aviation Captial logo is seen displayed in this illustration taken, May 4, 2022. REUTERS/Dado Ruvic/Illustration
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By Anirban Sen and David French

(Reuters) - SMBC Aviation Capital, one of the world's biggest aircraft lessors, is nearing a deal to acquire smaller rival Goshawk for about $7 billion, including debt, people familiar with the matter said on Friday.

The deal between the two privately held, Dublin, Ireland-based lessors could be announced as soon as next week, the sources said, speaking on condition of anonymity. It would create a global aircraft leasing giant as consolidation sweeps the industry.

Last year, the world's two largest aircraft leasing companies, Ireland's AerCap and GE's leasing arm GECAS, merged in a deal worth more than $30 billion.

SMBC Aviation Capital, which is owned by a consortium including Japan's Sumitomo Corp and Sumitomo Mitsui (NYSE:SMFG) Financial Group, has a fleet of more than 750 owned, managed and committed aircraft, mostly Boeing (NYSE:BA) and Airbus short-haul models, according to its website.

Goshawk, which is a 50-50 joint venture between Hong Kong-based conglomerate NWS Holdings Limited and Chow Tai Fook Enterprises Limited, has an owned, managed and committed fleet that consists of 222 aircraft, its website showed.

A spokesperson for SMBC Aviation Capital declined comment. Goshawk did not immediately respond to a comment request.

The trade publication AirFinance Journal first reported the talks between the two companies in November.

© Reuters. FILE PHOTO: SMBC Aviation Captial logo is seen displayed in this illustration taken, May 4, 2022. REUTERS/Dado Ruvic/Illustration

A flurry of deals has reshaped a global air finance industry that has attracted a huge swathe of capital in recent years.

The aviation investment arm of private equity firm Carlyle Group (NASDAQ:CG) Inc agreed last year to buy aircraft leasing company Fly Leasing (NYSE:FLY) Ltd for $2.36 billion, including debt. In December, Carlyle's aviation arm also agreed to buy Irish leasing firm AMCK Aviation's portfolio of aircraft.

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