Aircastle to form joint venture with IBJ Leasing

Aircastle has reported that it formed an aircraft leasing joint venture with IBJ Leasing (IBJL), a Japanese general leasing company which is part of Mizuho Financial Group. The joint venture, which will be serviced by Aircastle, will target investments in newer narrow-body aircraft leased to premier airlines. It is expected the joint venture will purchase its first two aircraft from Aircastle and that future aircraft investments will be acquired directly. Aircastle will own 25% of the joint venture.