Global Jet Capital announces 90% completion of its acquisition of GE’s fixed-wing corporate aircraft financing portfolio in the Americas

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By admin December 16, 2015 22:15

Global Jet Capital announces 90% completion of its acquisition of GE’s fixed-wing corporate aircraft financing portfolio in the Americas

Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, has announced that it has completed approximately 90% of its acquisition of GE’s fixed-wing Corporate Aircraft financing portfolio in the Americas.

It has acquired all of the 276 aircraft in the portfolio that are in the US and Canada, and aims to complete the remaining 10%, which consists of accounts in Mexico and Brazil, by the end of January 2016.

Global Jet Capital’s announcement to purchase GE’s corporate aircraft lease and loan book in the Americas was made in October 2015.

Shawn Vick, Executive Director of Global Jet Capital, said: “Today’s announcement is a significant step in further cementing our position as a leader in business aviation finance in the Americas.  We are acquiring an excellent book of financed aircraft that not only provides us with a steady flow of income, but also a strong client base, which creates a huge opportunity for us to provide new business aviation finance solutions.

“The North America market is the biggest in the world, with around half of all business jets based here.  With the bulk of this acquisition complete, and over $1 billion to lend to finance new purchases, we are well positioned to capitalize on a big and growing market.”

Global Jet Capital launched last year, and it is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners; The Carlyle Group; and AE Industrial Partners.

The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.

Members of the GE Capital Corporate Aircraft team in the Americas will also join Global Jet Capital.

admin
By admin December 16, 2015 22:15