SMBC Aviation Capital
SMBC Aviation Capital, formerly RBS Aviation Capital, is the world's fourth largest aircraft leasing company,[1] based in Dublin, Ireland.
Formerly part of the Royal Bank of Scotland Group, the company presently has ownership of 240 aircraft, with a further 79 orders placed with Airbus and Boeing, and has airline customers in over 40 countries.
History
During the Financial crisis of 2007–2010, the company cancelled an order for 25 Boeing 787 Dreamliner's, worth at least $3.8bn at list price.[2] In July 2010 at the Farnborough Airshow, it announced a $7.6bn order for 52 Airbus A320's and 43 Boeing 737-800's.[1]
As part of a restructing of the RBS Group, the unit was classified as a non-core activity, and was scheduled to be sold. The sale was placed on hold in April 2010, pending "cyclical pickup in the aviation industry."[3] Several key managers left to join Avolon.[4]
On 17 January 2012 RBS announced it had agreed to sell the business to Sumitomo Mitsui Banking Corporation for $7.3bn (£4.7bn), with the sale expected to be completed by the end of the third quarter of 2012.[5] The sale completed on 1 June 2012 and the business was renamed SMBC Aviation Capital.[6]
References
- ↑ 1.0 1.1 "RBS business in $7.6bn jet order". BBC News. July 22, 2010. Retrieved July 22, 2010.
- ↑ Tracy Alloway (May 12, 2010). "Erstwhile Dreamliners of RBS Aviation". Financial Times. Retrieved July 22, 2010.
- ↑ Slater, Steve (April 28, 2010). "RBS aviation leasing arm sale put on ice - source". Reuters. Retrieved July 22, 2010.
- ↑ "2010-01-01". 2010-12-18. Retrieved 2010-12-18.
- ↑ http://www.rbs.com/media/news/press-releases/2011-press-releases/2012-01-17-aviation.ashx
- ↑ http://www.irishtimes.com/newspaper/finance/2012/0602/1224317133549.html
External links
| ||||||||