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.
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