Published on May 16th, 2022 | by Alan Dwyer


SMBC to Acquire Goshawk Aviation

SMBC Aviation Capital will acquire Dublin based Goshawk Aviation for US$6.7bn enterprise value. The landmark transaction will create the largest Japanese owned aircraft lessor and the second largest global player by a number of aircraft with total assets of c. US$37bn (including future order book). Goshawk announced on Monday that it has received approval from shareholders NWS Holdings Limited and Chow Tai Fook Enterprises Limited for lessor SMBC Aviation Capital Limited to acquire substantially all of Goshawk’s commercial aircraft leasing business, excluding any aircraft leased to Russian airlines.

As part of the transaction, SMBC Aviation Capital will acquire a portfolio of 176 owned and managed aircraft. The combined business will have a portfolio of 709 owned and managed aircraft and an additional US$13bn of orders from Boeing and Airbus comprising exclusively of 261 new technology narrowbody aircraft. Aircraft owned by Goshawk that are located in Russia are excluded from this transaction.

Commenting on the announcement, the CEO at Goshawk, Ruth Kelly said, “I am so proud of the commitment and extraordinary achievements of the Goshawk team who created a world class leasing company, delivering innovative solutions to our customers and value to our stakeholders since 2013. I am confident that this marks the beginning of an exciting chapter as market trends point to growth in aircraft leasing with great opportunities for people involved in aviation.”

Peter Barrett of SMBC.

Also commenting on the deal was the Peter Barrett, Chief Executive Officer, SMBC Aviation Capital, Peter Barrett who said, “This is the right transaction for SMBC Aviation Capital, allowing us to better serve our customers in a fast-evolving sector whilst also accelerating our growth and delivering significant value for our shareholders. Goshawk is a high-quality business with assets and people that complement our own. The combined business will continue to have a disciplined focus on young, liquid, most in demand narrowbody aircraft with one of the most environmentally friendly portfolios of any major leasing company together with 261 new generation, fuel-efficient aircraft on order. We are undertaking this transaction at a strategic point in the cycle with a strong recovery building across the global airline industry and we expect the transaction to be accretive to SMBC Aviation Capital’s return on capital.”

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