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Feature: Ten years strong
01 June 2011
Peter Barrett, chief executive officer, RBS Aviation Capital, speaks to Airfinance Journal as the lessor celebrates its 10th birthday.
RBS Aviation Capital
Royal Bank of Scotland
It has kept a low profile, but RBS Aviation Capital, which celebrated its 10th birthday on May 3, is a great survivor.
Ten years ago shareholders in IAMG, a Cayman Islands-based aircraft lease arranger, put the company up for sale.
Royal Bank of Scotland, which was already a significant aircraft lender, outbid Abbey National to buy IAMG, which was renamed Lombard Capital and later became RBS Aviation Capital.
Peter Barrett, chief executive officer, RBS Aviation Capital, joined the business as chief operating officer almost immediately after Royal Bank of Scotland bought IAMG and swiftly took over as chief executive officer in 2004.
When Barrett joined the team, the lessor was much smaller, and hardly established. The company had a small Dublin office, but big aspirations. Ex-Guinness Peat Aviation (GPA) employees featured prominently. At that time Domnhal Slattery, now chief executive officer of Avolon, headed up the young lessor.
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