Global Jet Capital completed its acquisition of GE’s fixed-wing corporate aircraft financing portfolio in the Americas, the aircraft financing firm announced yesterday. The outstanding part of the portfolio covered some 30 aircraft based in Mexico and Brazil, with these accounts now transferred to Global Jet, which is backed by GSO Capital Partners, The Carlyle Group and AE Industrial Partners.
Although the majority of the aircraft financed by the company are based in the U.S. and Canada, Global Jet said it sees “strong signs of growth potential” in markets outside of North America. It noted that the Brazilian fleet of midsize business jets to bizliners—at about 330 aircraft—accounts for more than half of the South American total. Meanwhile, the equivalent Mexican business jet fleet is approximately 570 aircraft, 60 of which were delivered in the last five years.
“This acquisition has allowed us to build a very strong base with secure income streams which will further enable us to develop into new markets,” said Global Jet Capital executive director Shawn Vick. “Mexico and Brazil are well established markets with good infrastructure. However, like in many regions sources of funding are reducing in number, so there is significant opportunity for us to step in and provide financing solutions.”