Mubadala-Backed Sirius Aviation Capital Holdings Grows Aircraft Portfolio, Buying Assets from SMBC Aviation Capital

Posted on 06/01/2022

Headquartered in Abu Dhabi Global Market (ADGM), Sirius Aviation Capital Holdings Limited acquired five single-aisle, mid-life aircraft from SMBC Aviation Capital. SMBC Aviation Capital, formerly RBS Aviation Capital, is one of the world’s largest aircraft leasing companies. It is owned by a consortium of leading Japanese institutions: Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Finance and Leasing Company Limited and Sumitomo Corporation.

For Sirius Aviation Capital Holdings this brings the total number of aircraft under management to 17, with an approximate value of US$ 500 million. Sirius Aviation Capital Holdings entered into a joint venture with Carolous Aviation Leasing LLC, a portfolio company of Charlotte, North Carolina-based Corrum Capital Management LLC to acquire the aircraft. Sirius’ share of the joint venture was funded through a commitment from its anchor investor, Abu Dhabi Catalyst Partners. Abu Dhabi Catalyst Partners is a joint venture between Mubadala Investment Company and Alpha Wave Ventures (formerly Falcon Edge Capital). Sirius commenced operations in ADGM in March 2020.

On another note, Sirius Aviation Capital Holdings acquired two further aircraft, an Airbus A321 on lease to ANA and a A320 on lease to Wizz Air. The aircraft were acquired from an undisclosed Japanese lessor.

Sirius Aviation Capital Holdings is run by Howard Millar. The main part of Howard Millar’s career was spent at Ryanair Holdings plc where he was latterly Deputy Chief Executive and Chief Financial Officer (until 2014) having spent 23 years at the company. Howard continues to be on the board of directors of Ryanair as a Non-Executive Director and also serves on the Nomination Committee.

On September 15, 2021, Sirius Aviation Capital Holdings announced that one of its joint venture entities had closed its first bank facility with Deutsche Bank to refinance the acquisition of five single-aisle aircraft which it had acquired in 2020. The five aircraft are on operating leases to three different carriers: three Boeing 737 NG’s with Southwest (US), one A320 with Spirit (US) and one A320 with Etihad (UAE).

In June 14, 2021, Sirius Aviation Capital Holdings announced that it has acquired ten single-aisle, mid-life aircraft from BOC Aviation, a member of Bank of China Group during the COVID-19 pandemic. On May 14, 2021, the lessor bought five single-aisle, mid-life aircraft from BOC Aviation.

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