Global Jet Capital completes 90% purchase of GE fixed wing portfolio
Global Jet Capital has completed 90% of its acquisition of GE’s fixed wing aircraft financed portfolio.
The company has so far assumed 276 aircraft based in the US and Canada, with the remaining 10% of accounts being in Brazil and Mexico.
“Today’s announcement is a significant step in further cementing our position as a leader in business aviation finance in the Americas.” said Shawn Vick, executive director of Global Jet Capital. “We are acquiring an excellent book of financed aircraft that not only provides us with a steady flow of income, but also a strong client base, which creates a huge opportunity for us to provide new business aviation finance solutions”.
Global Jet Capital is intending to complete the acquisition of the Brazilian and Mexican account by the end of January 2016.
“The North America market is the biggest in the world, with around half of all business jets based here. With the bulk of this acquisition complete, and over $1 billion to lend to finance new purchases, we are well positioned to capitalize on a big and growing market.”