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 11.19.14 ** HD iPad-Friendly -- Airborne 11.19.14 **
** Airborne 11.17.14 ** HD iPad-Friendly -- Airborne 11.17.14 **
** Airborne 11.14.14 ** HD iPad-Friendly -- Airborne 11.14.14 **

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

Barnstorming: FAA -- The Original EPA

The Governmental Death By 1000 Cuts, Continues... Guest Editorial by Rich Davidson, Grass Cutting Administrator At Lee Bottom Flying Field/API Advisory Board Did you feel that Aero>[...]

Financier Says Heathrow Expansion Easier To Fund Than Gatwick

Ian Hannam Backs Heathrow Hub U.K. financier Ian Hannam, one of the backers of Heathrow Hub, has said that Gatwick would find it much more difficult to fund expansion than either o>[...]

AD: Boeing Company

AD NUMBER: 2014-23-04 PRODUCT: Certain The Boeing Company Model 777-200LR, -300, -300ER, and 777F series airplanes.>[...]

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2014-23-06 PRODUCT: Certain Bombardier, Inc. Model CL-600-2B19 (Regional Jet Series 100 & 440) airplanes.>[...]

ANN's Daily Aero-Linx (11.21.14)

Alaska Airman's Association The Alaska Airmen's Association is the largest state general aviation group in Alaska. It is a non-profit 501 (c) 3 organization whose sole purpose is t>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC