ORIX Aviation has confirmed the 100% acquisition of an aircraft portfolio, consisting of 14 narrow-body aircraft with ten lessees across multiple continents, from Merx Aviation.
The aircraft were previously held in a joint venture between ORIX Aviation and Merx Aviation, which commenced in 2017 with 35 aircraft valued at US$1billion. After trading activity, the portfolio currently consists of 14 narrow-body aircraft valued at over US$300 million.
Commenting on the transaction, James Meyler, Chief Executive Officer of ORIX Aviation, said: “We are delighted to have taken this opportunity to acquire the remaining 50% of an attractive aircraft portfolio. Our current business plan outlines that ORIX Aviation has committed to invest up to US$2 billion in aircraft assets across the next 12 months, of which over US$1billion has already been contracted to close during the remainder of 2023. The transaction we announce today further underlines our intention to continue to grow the ORIX Aviation platform.”
ORIX Aviation was established in 1991 in Dublin, Ireland and is a 100% subsidiary of ORIX Corporation in Japan. ORIX Aviation owns and manages over 200 aircraft which are leased to more than 50 airline customers located in over 30 countries. ORIX Aviation is headquartered in Dublin with offices currently in Dubai and Tokyo with a team of over 100 professionals, and a fleet value of US$8 billion. ORIX Aviation is a 30% shareholder of Avolon, who sit amongst the top three aircraft lessors globally.
