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2012 OPERATING LEASE SURVEY
06 July 2012
Aircraft values and lease rates are under pressure as the economic downturn continues. Joanna Vickers looks at how the lessors are managing their portfolios in difficult circumstances.
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In June a Japanese bank, Sumitomo Mitsui Banking Corporation (SMBC), purchased RBS Aviation Capital for $7.3 billion. The newly created lessor, SMBC Aviation, has a portfolio value of $8.1 billion and a fleet of 238, making it one of the largest leasing companies in the world.
This was the largest sale of an entire aircraft leasing company. The scale of the deal highlights the high level of liquidity available, and the maturity of the leasing industry to date.
However, despite many optimistic predictions of lessors taking up to 40% of the market in the next five years, there are still reasons to remain cautious.
Lease rates
While at a macro level the industry is thriving, lease rates have been relatively unstable over the past year. This suggests something of a disjoin between the day-to-day mechanisms of leasing, and the enormous acquisitions at the top of the sector.
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