AerCap to sell US$0.8bn aircraft portfolio to Peregrine Aviation Company

AerCap has signed an agreement to sell a 21-aircraft portfolio to Peregrine Aviation Company (Peregrine), an investment entity established by NCB Capital. NCB Capital has US$37bn of assets under management and is the brokerage arm of the National Commercial Bank, the largest bank in Saudi Arabia.
The 21-aircraft portfolio consists of a mix of wide-body and narrow-body aircraft. As part of the sale, AerCap will provide lease management services to Peregrine and will retain an equity interest in the entity. Sarah Al Suhaimi, Chief Executive Officer of NCB Capital, said “Aircraft leasing is a fast growing industry that offers a unique and attractive diversification opportunity. We are delighted to have partnered with AerCap, the global leader in aircraft leasing, in this transaction that is the first of its kind in our market.”