Sirius Aviation Capital Holdings Limited, a global aircraft lessor, headquartered in Abu Dhabi Global Market, has acquired ten single-aisle, mid-life aircraft from BOC Aviation, a Bank of China Group member during the current Covid-19 pandemic.
Sirius entered into joint ventures with seasoned aviation investors Corrum Capital and HPS Investment Partners to acquire these aircraft. Sirius’ share of the joint ventures was funded via its commitment from its anchor investor, Abu Dhabi Catalyst Partners (“ADCP”). ADCP is a joint venture between Mubadala Investment Company and Falcon Edge (a US investment company).
Sirius commenced operations in ADGM during March 2020 and has grown its fleet to ten aircraft in just over a year and plans to expand its fleet to 100 aircraft over the next three years. The acquisition underpins Sirius’ investment strategy of acquiring in-demand, single-aisle, mid-life aircraft globally on lease to strong airline credits, enabling investors to generate attractive risk-adjusted returns.
“We are delighted to have grown our fleet to 10 aircraft during the worst year in the history of commercial aviation. This is testimony to the strength of our business model, which is to acquire aircraft on lease to top tier airline credits, availing of the attractive returns available in mid-life single-aisle aircraft leasing. During the most challenging year in commercial aviation history, the growth of our business enhances the reputation of ADGM as a platform to launch an international business and transact with leading financial services counterparties on a global basis. We have been very impressed by the support and contribution of the ADGM team in the successful launch and growth of the business. It is further recognition of ADGM, and Abu Dhabi, as the “location of choice” for high-growth companies that want to establish a footprint in the region and develop their business on a global basis,” Howard Millar, Chief Executive Officer of Sirius, commenting on the growth of the business at ADGM, said. “We also recognise and thank our anchor investor, Abu Dhabi Catalyst Partners (“ADCP”), for their foresight, vision, and the tremendous support given to the Sirius team. We continue to see attractive investment opportunities in aviation as traffic volumes recover due to the global rollout of vaccines. Sirius’ plans to more than double its fleet to more than 20 aircraft in the next 12 months and to over 100 in the next three years. We look forward to working closely with our investors, shareholders, and the ADGM team to deliver these ambitious targets.”
