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 06.20.16

Airborne 06.21.16

Airborne 06.22.16

Airborne 06.23.16

Airborne 06.24.16

Airborne Hi-Def On YouTube

Airborne 06.20.16

Airborne 06.21.16

Airborne 06.22.16

Airborne 06.23.16

Airborne 06.24.16

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

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 06.23.16: Solar Impulse In Spain, Terrafugia Approval, Stratolaunch

Also: Twin Otter Rescue, #OSH16Coolest Program, AMA, Charlotte-Douglas, Canadian Astros, Hidden Airline Fees, SpaceX Cargo Launch The flight of the Solar Impulse-2 around the world>[...]

Airborne 06.22.16: Lumenati Solar, Microlight e-Go, AirVenture16 After-Hours

Also: NATA, Hartzell’s Joe Brown, Donations Sought, Blue Origin, Blue Angels, Bezos Wants Prizes, CRJ900 Solar Impulse-Two was not the only solar-powered aircraft at New York>[...]

Airborne 06.23.16: Solar Impulse In Spain, Terrafugia Approval, Stratolaunch

Also: Twin Otter Rescue, #OSH16Coolest Program, AMA, Charlotte-Douglas, Canadian Astros, Hidden Airline Fees, SpaceX Cargo Launch The flight of the Solar Impulse-2 around the world>[...]

AD: The Boeing Company Airplanes

AD NUMBER: 2016-12-11 PRODUCT: Certain The Boeing Company Model 787-8 airplanes.>[...]

AD: BRP-Powertrain Reciprocating Engines

AD NUMBER: 2016-13-04 PRODUCT: Certain BRP-Powertrain GmbH & Co KG Rotax 912 F2, 912 F3, 912 F4, 912 S2, 912 S3, 912 S4, 914 F2, 914 F3, and 914 F4 reciprocating engines.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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