29th January 2016, Boca Raton, FL
Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, announces that it has now completed the final elements of its acquisition of GE’s fixed-wing Corporate Aircraft financing portfolio in the Americas.
The outstanding part of the portfolio covered around 30 aircraft based in Mexico and Brazil, with these accounts now transferred to Global Jet Capital. Although the majority of the aircraft financed by the company are based in the US and Canada, Global Jet Capital sees strong signs of growth potential in markets outside North America.
The Brazilian fleet of mid-size, large cabin and jetliner business aircraft is around 330 strong, accounting for more than half the South American total. The equivalent Mexican fleet is approximately 570 aircraft, 60 of which were delivered in the last five years.1
Shawn Vick, Executive Director of Global Jet Capital, said: “We are delighted to have fully completed the deal with GE, and brought the final tranche of accounts under the Global Jet Capital umbrella. This acquisition has allowed us to build a very strong base with secure income streams which will further enable us to develop into new markets. Mexico and Brazil are well established markets with good infrastructure. However, like in many regions, sources of funding are reducing in number so there is significant opportunity for us to step in and provide financing solutions.”
Dave Labrozzi, Chief Operating Officer of Global Jet Capital said: “In my previous role at GE, I was heavily involved in establishing this portfolio and I’m really looking forward to building on it at Global Jet Capital. There is huge demand for aircraft financing around the world and we are expanding our team to help meet that demand and capitalize on new growth opportunities.”
Notes to editors
1Global Jet Capital analysis of JetNet data, January 2016