RBS Divests Its Aircraft Leasing Arm | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 02.01.16

Airborne 02.02.16

Airborne 02.03.16

Airborne 02.04.16

Airborne 02.05.16

Airborne Hi-Def On YouTube

Airborne 02.01.16

Airborne 02.02.16

Airborne 02.03.16

Airborne 02.04.16

Airborne 02.05.16

Wed, Jan 18, 2012

RBS Divests Its Aircraft Leasing Arm

Japanese Bank Outbids Chinese, Wells Fargo

The Royal Bank of Scotland (RBS) is getting out of the aviation leasing business. Bloomberg reports RBS will get about $7.3 billion for a division which currently controls a fleet of 206 aircraft, and has 87 more on order for delivery through 2015. The sale is expected to be complete by the end of this year's third quarter.

The buyer is another bank, Japan's second-largest, Sumitomo Mitsui Financial Group, Inc., which had reportedly been competing with the China Development Bank Corp. and Wells Fargo. The acquisition is said to be a strategy to counter slowing growth in the Japanese domestic market.

The divestiture by RBS is part of a recent move to reduce its non-core holdings by more than $160 billion, or over 60 percent. The bank also cut 4,800 jobs in the process, and has seen its share price rise 23 percent since the first of the year. Gary Greenwood, an analyst at Shore Capital in Liverpool, tells Bloomberg the non-core assets "were long-term assets which aren’t particularly liquid, which meant RBS had to hold quite a bit of capital against them."

FMI: www.rbs.co.uk ; www.smfg.co.jp/english

Advertisement

More News

Airborne 02.03.16: SAE Boss Resigns, Zero Flies In Japan, Diamond Builds Dornier

Also: Transgender Pilots, Upset Prevention and Recovery, Southwest Airlines, FedEx, GE Cuts Jobs, Joint Base Lewis-McChord The Sebring U.S. Sport Aviation Expo faced some tough cha>[...]

Airborne 02.04.16: ATC Privatization Fears Mount, PK Floats, IFD440 Update

Also: RIP Roger Boisjoly, Let Bob Fly, 1st Legacy 500, AZ Sales Tax Exemption, Hartzell 5-Blades, Air Transat, Pro Line Fusion Transportation and Infrastructure Committee Chairman >[...]

Airborne 02.04.16: ATC Privatization Fears Mount, PK Floats, IFD440 Update

Also: RIP Roger Boisjoly, Let Bob Fly, 1st Legacy 500, AZ Sales Tax Exemption, Hartzell 5-Blades, Air Transat, Pro Line Fusion Transportation and Infrastructure Committee Chairman >[...]

AeroSports Update: EAA Chapters & Schools Building Together

When Local Communities And Those Who Love Recreational Aviation Get Together, Good Things Can Happen In a recent posting on The Zenith Aircraft Builders And Flyers Blog, Rebecca Ri>[...]

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2016-02-05 PRODUCT: Certain Bombardier, Inc. Model BD-100-1A10 (Challenger 300) airplanes.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC