Aircastle buys 20 narrowbodies from SMBC Aviation Capital; Aviation 100 Middle East, Africa & Islamic Award winners

Yesterday, Aircastle agreed to acquire 20 narrow-body aircraft from SMBC Aviation Capital, which are on lease with thirteen airlines across the globe. The purchase price was not disclosed but they may have been sold with a premium due to the leases being attached and Aircastle’s assumed desire to quickly increase its portfolio over the 200 aircraft strong threshold to be considered investment grade by the credit rating agencies, according to the most recent note from Cowen & Company’s Helane Becker. Mike Inglese, Aircastle’s CEO, said that the purchase of these “high-quality aircraft on lease to a geographically diverse group of