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 06.29.15

Airborne 06.30.15

Airborne 07.01.15

Airborne 07.02.15

Airborne 07.03.15

Airborne Hi-Def On YouTube

Airborne 06.29.15

Airborne 06.30.15

Airborne 07.01.15

Airborne 07.02.15

Airborne 07.03.15

 

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 07.03.15: New Trig Avionics, Cargo Biz Grows, iOS GPS Fix

Also: 'No Drone Zone', Aviation v Media, Women's Air Race Classic, Houston Spaceport, Navy's New A/C Launch System, GA Fly Safe, FAA InFO Trig Avionics tells us they are unveiling >[...]

Airborne 07.03.15: New Trig Avionics, Cargo Biz Grows, iOS GPS Fix

Also: 'No Drone Zone', Aviation v Media, Women's Air Race Classic, Houston Spaceport, Navy's New A/C Launch System, GA Fly Safe, FAA InFO Trig Avionics tells us they are unveiling >[...]

Airborne 07.02.15: Bell 525 Flies!, Archer DX Delivers, Boss 182 Upgrade

Also: Wingfoot@AirVenture, Airbus On Pilot Training, XPrize, EFD1000H PFD For Bell, Atlanta Warbird Weekend, Lee Bottom Flying Field, Air Canada/Unifor, National Air Cargo Fined Ju>[...]

ANN FAQ: Getting The Most Out Of ANN's Newsletters

ANN goes through a lot of trouble to make the graphics flashy and cool and an integral part of the story. But let's face it, they're bandwidth-intensive. So here are a couple of th>[...]

Aero-News: Quote Of The Day (07.04.15)

"When presented with a passenger carrying a large sum of money through the screening checkpoint, the TSA officer will frequently engage in dialog with the passenger to determine wh>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC