Author: anne-marie

SKY Leasing 2023 Annual Operating Results

2023 Operating Highlights

  • Completed the acquisition of 49 aircraft adding 9 new airline customers to the portfolio
  • Lease placement of (8) B737MAX8 aircraft with four airline customers across Europe and Latin America
  • Raised $2 billion of bank debt across warehouse and term loan products increasing our bank group to 14 global aviation banks
  • Increased institutional capital under management to $1.3B across all aviation managed funds

San Francisco, CA – January 22, 2024- SKY Leasing (“SKY”) is pleased to announce its’  2023 operating results highlighted by 57 transactions closed across sale and leasebacks, acquisitions, and lease placements during the period. SKY continues to find attractive investment opportunities increasing the closed and committed fleet to 87 aircraft, which is 77% next generation equipment with a weighted average age of 4.5 years and an average remaining lease term of 8.3 years.

The transactions were originated with nine airlines across all major regions building on the strength of SKY’s global customer network. These acquisitions are in line with SKY’s investment strategy of building a fleet of new and next-generation aircraft on long-term lease with leading global airlines. “2023 was a record year for SKY thanks to the long-term repeat relationships we have built with our airline customer base. Our disciplined investment approach along with our strong and diversified capital structure allowed us to adapt to our customers’ needs and provide tailored fleet solutions” said Austin Wiley Chief Executive Officer, Co-Chief Investment Officer of SKY Leasing.

In 2023, SKY successfully expanded its’ debt facilities and lender base by $2 billion, through the execution of new secured debt facilities and the upsizing of existing facilities. “We are thrilled with the tremendous support from our existing and new banking partners. Our ability to originate and structure high quality portfolios has been critical to our success” said Matthew Crawford, Co-Chief Investment Officer of SKY Leasing.

About SKY Leasing

SKY Leasing, LLC (“SKY Leasing”) is a premier aircraft leasing asset manager with offices in San Francisco, California, Dublin, Ireland, and Singapore. The company’s fund management business was founded in 2019, in partnership with M&G Investments. Since 2016, SKY Leasing has invested over $8 billion to acquire new and young mid-life aircraft. For more information about SKY Leasing, visit www.skyleasing.com.

For more information, please contact info@skyleasing.com

SKY Leasing 1st Half 2023 Leasing Activity

1H-2023, SKY Leasing Operating Highlights

  • Closed the acquisition of, (2) A320NEO aircraft, (2) 787-9 aircraft (1) 737MAX8 aircraft, (2) B737-800, and (1) ATR72-600
  • Agreed to acquire (2) A321NEO aircraft, (1) A320NEO aircraft, (1) 787-9 aircraft, (1) 737MAX8 aircraft, (2) B737-800, and (1) A320-200
  • Executed LOI’s for the placement of (3) 737MAX8 aircraft
  • SKY established five new airline relationships throughout 1H-2023, expanding its global network of airlines 
  • Raised over $450 million of secured financing through a term loan facility with a group of four leading transportation banks

San Francisco, CA – July 12, 2023- SKY Leasing (“SKY”) is pleased to announce its’ first half 2023 results highlighted by 20 transactions closed across acquisitions and lease placements during the period. SKY continues to find attractive investment opportunities for Sky Fund V increasing the closed and committed fleet to 53 aircraft. The portfolio is comprised of 84% next generation equipment with a weighted average age of 3.7 years and an average remaining lease term of 8.5 years.

The transactions originated with 11 airlines across all major regions including North America Europe, and Latin America, building on the strength of SKY’s global customer network. These acquisitions are in line with SKY’s investment strategy of building a fleet of new and next-generation aircraft on long-term lease with leading global airlines. “In the 1st half, we continued to see strong tailwinds from the passenger demand recovery. The tightening of aircraft supply and credit markets has enabled SKY to create value for our airline customers through the lease placement of B737MAX aircraft and efficient sale-leaseback solutions.” said Austin Wiley CEO of SKY Leasing.

In 1H-2023, SKY successfully expanded its’ debt facilities and lender base by $450 million, through the execution of a secured term loan collateralized by 14 aircraft on lease to 12 airlines. “We are pleased to execute on this successful portfolio financing. The transaction further validates the demand our investment strategy attracts from the lending community and the liquidity we have available for our investors and airline partners.” said Matthew Crawford, EVP, Head of Capital Markets of SKY Leasing.

About SKY Leasing

SKY Leasing, LLC (“SKY Leasing”) is a premier aircraft leasing asset manager with offices in San Francisco, California, Dublin, Ireland, and Singapore. The company’s fund management business was founded in 2019, in partnership with M&G Investments. Since 2016, SKY Leasing has invested over $7 billion to acquire new and young mid-life aircraft. For more information about SKY Leasing, visit www.skyleasing.com.

For more information, please contact info@skyleasing.com

SKY Leasing Raises $770 Million for Sky Fund V, More Than Double the Size of its Predecessor Aviation Fund

San Francisco, CA- January 25, 2023- Sky Leasing LLC (“SKY Leasing”) a leading
alternative asset manager with extensive experience investing institutional capital in aviation,
today announced the final close of Sky Fund V, L.P. (“SFV or the Fund”). The Fund closed
oversubscribed with approximately $770 million in capital commitments with strong support
from existing and new investors that include global insurance companies, sovereigns, pension
funds, endowments, foundations, and family offices.


The Fund is a continuation of the investment program of SKY Leasing focused on providing
capital solutions to airlines seeking fleet modernization primarily through the sale-leaseback of
new aircraft deliveries. To date, SFV has committed over half of the capital raised to acquire a
fleet of 48 aircraft with an average age under three years.


“The capital raised for SFV is well positioned for the post-covid recovery period, which
continues to present attractive investment opportunities for new and young mid-life aircraft”
said Austin Wiley, Chief Executive Officer of SKY Leasing.


Eaton Partners acted as the exclusive global placement agent for the Fund.
About SKY Leasing


SKY Leasing, LLC (“SKY Leasing”) is a premier aircraft leasing asset manager with offices in
San Francisco, California, Dublin, Ireland, and Singapore. The company’s fund management
business was founded in 2019, in partnership with M&G Investments. Since 2016, SKY Leasing
has invested over $7 billion to acquire new and young mid-life aircraft. For more information
about SKY Leasing, visit www.skyleasing.com.

SKY Leasing 2022 End of Year Results

SKY Leasing Full Year 2022 Update

In 2022, SKY Leasing Leased, Purchased and Sold over 105 Aircraft

  • Acquired 35 Aircraft, of which 87% are new technology narrowbody aircraft
  • Executed sale-leaseback agreements or the lease placement for 26 aircraft
  • Finalized sale purchase agreements for 8 aircraft subject to existing leases
  • SKY established 13 new airline relationships throughout 2022 and expanded its global network of airlines 
  • Completed the sale of Sky Fund I Irish Limited (36 aircraft) to Dubai Aerospace Enterprise (DAE) Limited
  • Raised over $750 million of secured financing across two facilities with a group of eight leading transportation banks

San Francisco, CA –January 11, 2023- SKY Leasing (“SKY”) is pleased to announce its’ end of year 2022 results highlighted by a transaction volume in excess of $3.5 billion.

The transactions were originated with 14 airlines across all major regions including Europe, Latin America, and Asia, building on the strength of SKY’s global customer network. These acquisitions are in line with SKY’s investment strategy of building a fleet of new and next-generation aircraft on long-term lease with leading global airlines. “In 2022, we demonstrated the value of SKY’s investment management capabilities across purchasing, leasing, and aircraft sales. As airlines benefit from the passenger demand recovery, we are pleased to provide scaled fleet solutions for new technology aircraft” said Austin Wiley CEO of SKY Leasing.

SKY continues to find attractive investment opportunities for Sky Fund V increasing the closed and committed fleet to 48 aircraft with a weighted average age of 2.7 years and an average remaining lease term of 9.2 years. “Our institutional partners appreciate our successful track record of investing in opportunities with downside protection and long-term stable cash flows. With the increase in market volatility, we have seen a significant increase in demand from investors looking for specialized offerings that are less correlated to the broader markets.” said Matthew Crawford, Executive Vice-President Capital Markets of SKY Leasing.

About SKY Leasing

SKY Leasing, LLC (“SKY Leasing”) is a premier aircraft leasing asset manager with offices in San Francisco, California, Dublin, Ireland, and Singapore. The company’s fund management business was founded in 2019, in partnership with M&G Investments. Since 2016, SKY Leasing has invested over $7 billion to acquire new and young mid-life aircraft. For more information about SKY Leasing, visit www.skyleasing.com

SKY Leasing signs definitive agreement to sell Sky Fund I Irish, Ltd.

San Francisco, CA 6 October 2022 SKY Leasing (“SKY”), an aviation investment manager announced today that Sky Fund I, LP has entered into a definitive agreement to sell Sky Fund I Irish, Ltd. (“SKY Fund I”) and its subsidiaries to Dubai Aerospace Enterprise (“DAE”).  The SKY Fund I portfolio is comprised of 36 owned and committed aircraft on lease to 14 airlines globally. The portfolio is more than 90% next generation technology aircraft.

“The strong demand for this portfolio is a validation of SKY’s strategy of providing capital to airlines to execute on their fleet replacement initiatives. We are pleased to sign an agreement that will recognize the value we have built up on behalf of our institutional investors. We remain committed to the growth of our business through future investment vehicles” said Austin Wiley, CEO of SKY Leasing.  

SKY Leasing was advised by Milbank and PWC.

About SKY Leasing

SKY Leasing (“SKY”) is a premier aircraft leasing asset manager with offices in San Francisco, California, Dublin, Ireland, and Singapore. The company’s fund management business was founded in 2019, in partnership with M&G Investments which acquired a stake in the business and invested $300 million of equity in its 2019 vintage fund. As of June 30, 2022, SKY Leasing manages a portfolio valued in excess of $3.5B and has over $750M of equity under management. For more information about SKY Leasing, visit www.skyleasing.com.

SKY Leasing Announces 1st Half 2022 Results and Fleet Update

San Francisco, CA –July 14, 2022- SKY Leasing (“SKY”) is pleased to announce its’ first half 2022 results highlighted by originating and closing $1.4 billion of next generation aircraft. This results in a total aircraft portfolio valued in excess of $3.5 billion comprised of 72 aircraft across 17 airline customers.

The transactions were originated with airlines across Europe, Latin America, and Asia, building on the strength of SKY’s global customer network. These acquisitions are in line with SKY’s investment strategy of building a fleet of new and next-generation aircraft on long-term lease with leading global airlines. The portfolio is comprised of 85% next generation Airbus A320NEO family and Boeing 737MAX family aircraft with a weighted average age of 2.3 years and an average remaining lease term 10.1 years. “Through our differentiated origination approach, SKY continues to find attractive next generation technology investment opportunities. This was highlighted by our agreement in the 1st half of 2022 to acquire (12) B737MAX8 aircraft and remarket them to our global customer base” said Austin Wiley, Chief Executive Officer of SKY Leasing.

SKY completed a second fundraising closing for SKY Fund V, LP increasing the total equity under management to over $750M from a global institutional investor base. In addition to increasing our equity commitments, SKY completed over $700M of debt financings to fund the company’s pipeline. “SKY is pleased to have this tremendous support from our capital partners, which is a validation of the trust in our platform and our ability to originate attractive risk-adjusted returns” said Matthew Crawford, Executive Vice-President Capital Markets of SKY Leasing.

1H-2022 Operating Highlights

  • Closed 10 aircraft transactions including: (1) A321NEO aircraft, (1) A320NEO aircraft, (2) A320-200 aircraft, (3) B737MAX8, and (3) B737MAX9 subject to long term leases
  • Originated 21 aircraft including: (12) B737MAX8s, (4) A320NEO aircraft & (1) A321NEO aircraft, and (4) A320-200 aircraft
  • Raised over $700 million of term financing with a group of eight leading transportation banks

About SKY Leasing

SKY Leasing (“SKY”) is a premier aircraft leasing asset manager with offices in San Francisco, California, Dublin, Ireland, and Singapore. The company’s fund management business was founded in 2019, in partnership with M&G Investments which acquired a stake in the business and invested $300 million of equity in its 2019 vintage fund. As of June 30, 2022, SKY Leasing manages a portfolio valued in excess of $3.5B and has over $750M of equity under management. For more information about SKY Leasing, visit www.skyleasing.com.

SKY LEASING HAS COMPLETED THE SALE-LEASEBACK ACQUISITION OF THE FIRST OF (10) A320neo AIRCRAFT WITH LATAM

SAN FRANCISCO- June, 30, 2022– SKY Leasing (“SKY”), a full-service aircraft asset manager, announces it has completed the sale-leaseback of the first (10) A320neo family aircraft subject to long term lease with Latam. The transaction is a part of the airline’s fleet modernization plan with new fuel-efficient and environmentally friendly narrowbody Airbus aircraft.

“We are delighted to build our partnership with LATAM Airlines, on this first A320NEO delivery, a highly efficient aircraft with excellent range and fuel efficiency metrics.” said Travis Wiley, Senior Vice-President, SKY Leasing.

– ENDS –

If you require any further information, please contact: SKY Leasing

Anne Marie Scaramuzza Investor Relations

Tel: +1 415 655 5000

Email: info@skyleasing.com

Notes to editors

About SKY Leasing

SKY Leasing (“SKY”) is a premier aircraft leasing asset manager with offices in Dublin, Ireland and San Francisco, California. It was founded in 2019, in partnership with M&G Investments which acquired a stake in the business. As a full-service leasing platform, SKY leverages its experience, global network, industry insights and managerial talent to acquire and lease new and young mid-life aircraft. SKY’s corporate mission is to be a leading capital provider to airlines globally for sale and leaseback transactions. For more information about SKY Leasing, visit www.skyleasing.com.

SKY Leasing and Wafra Announce Aircraft Leasing Joint Venture

JOINT PRESS RELEASE

SKY Leasing and Wafra Announce Aircraft Leasing Joint Venture

New York – February 16, 2022 – SKY Leasing (“SKY”), a dedicated aviation investment manager, and Wafra Inc. (“Wafra”), a global alternative investment manager, today announced a joint venture partnership between SKY’s managed funds and certain funds managed by Wafra.

The strategic partnership will seek to acquire a diversified aircraft leasing portfolio, targeting approximately $3 billion of investments in new and young next-generation aircraft on lease to leading airlines globally.  SKY will act as manager and servicer of the joint venture’s assets.

The joint venture will invest in an initial portfolio of primarily new technology, narrowbody aircraft on long-term leases to leading airlines across North America, Europe, Asia and South America.  The initial portfolio has an appraised value of approximately $900 million in asset value across 20 aircraft.

“The Wafra investment will expand our financing solutions, provide greater scale, and enhance value to our capital partners and airline customers globally. SKY continues to see strong demand from our airline customer base for new technology aircraft, which provide valuable cost savings to our airline partners,” said Austin Wiley, Chief Executive Officer at SKY Leasing.” 

“We are pleased to expand our relationship with SKY through this partnership.  SKY is an established aircraft lessor with decades of experience, deep industry relationships and a track record of success,” said Adel Alderbas, Chief Investment Officer of Wafra.  Edward Tsai, Managing Director at Wafra, added, “We recognize the need for creative financing solutions to meet the growing demand of airline customers for next-generation technology.  We look forward to working with SKY to build a portfolio of high-quality, in-demand assets.”

About SKY Leasing

SKY Leasing (“SKY”) is a premier aircraft leasing asset manager with offices in Dublin, Ireland and San Francisco, California. It was founded in 2019, in partnership with M&G Investments which acquired a stake in the business.  Since January 2020, SKY Leasing has executed $2.5B of aircraft transactions across its funds under management. As of February 2022, the portfolio has a weighted average age of 1.5 years and weighted average lease term remaining of 11 years. SKY’s corporate mission is to be a leading capital provider to airlines globally for sale and leaseback transactions. For more information about SKY Leasing, visit www.skyleasing.com.

About Wafra

Wafra is a global investment firm pursuing strategies across the spectrum of alternative investments, including real assets, infrastructure, private equity, real estate, strategic partnerships, liquid markets and venture capital. Wafra, together with its affiliates, manages assets of approximately $28 billion (estimated as of September 30, 2021).  Wafra currently has more than 60 investment professionals out of its principal office in New York, and affiliated and associated offices in London, Bermuda and Kuwait.  For more information, please visit www.wafra.com.

For Media Inquiries, please contact:

SKY Leasing

Anne-Marie Scaramuzza, SKY Leasing

info@skyleasing.com

Wafra

Katrina Allen, Edelman

+1 (917) 640-2753

Katrina.allen@edelman.com

SKY Leasing Announces 2021 Results with $1.7B of New Aircraft Transactions

Year End 2021 Highlights

  • Originated $1.7B of new aircraft deliveries and future commitments across seven airlines in Latin America, Europe, and Asia
  • Executed sale-leaseback agreements for 39 aircraft including (19) A320/A321NEOs, (4) A320-200CEO, (8) B737MAX 8/9, (1) B787-9, (3) B737-800, (4) ATR72-600
  • 85% of the portfolio is comprised next generation NEO, MAX, and Dreamliner technology
  • Average portfolio age of 1.5 years and average remaining lease term of 11.0 years
  • Closed $792M ABS transaction refinancing a portfolio of 16 aircraft an average age of 1.6 years and a weighted average lease term of 11.1 years
  • Closed $600M revolving warehouse facility with a five-bank syndicate

San Francisco, CA –January 18, 2022- SKY Leasing (“SKY”) is pleased to announce its’ 2021 results highlighted by $1.7B of closed and committed aircraft transactions.

The acquisitions and commitments have been made across two funds managed by SKY including SKY Fund V, which was launched in 2021 as a successful follow-on to its’ 2019 vintage fund in partnership with M&G Investments (“M&G”). SKY’s total assets under management reached $2.6B at the end of 2021.

The new aircraft transactions were originated with seven airlines across Latin America, Europe, and Asia, building on the strength of SKY’s global customer network. SKY maintains one of the youngest fleets in the industry, with an average age of 1.5 years and a weighted average lease term of 11 years. These acquisitions are in line with SKY’s investment strategy of building a fleet of new and next generation aircraft on long-term lease with leading global airlines. The portfolio performance has been strong with a 99% lease collection rate in 2021.

“2021 demonstrated the resilience of our airline partners in the face of an uneven demand recovery. SKY has worked closely with its’ airline partners to provide sale-leaseback solutions for next generation aircraft allowing our partners to execute on their long-term fleet plans. Airlines are increasingly focused on managing unit costs and their carbon footprint, which only accelerates the demand for new aircraft and sale-leaseback financing” said Austin Wiley, Chief Executive Officer of SKY Leasing.

About SKY Leasing

SKY Leasing (“SKY”) is a premier aircraft leasing asset manager with offices in Dublin, Ireland and San Francisco, California. It was founded in 2019, in partnership with M&G Investments which acquired a stake in the business. As a full-service leasing platform, SKY leverages its experience, global network, industry insights and managerial talent to acquire and lease new and young mid-life aircraft. SKY’s corporate mission is to be a leading capital provider to airlines globally for sale and leaseback transactions. For more information about SKY Leasing, visit www.skyleasing.com.

For more information, please contact info@skyleasing.com