Sirius acquires five aircraft from SMBC Aviation Capital

Sirius Aviation Capital (Sirius), a global aircraft asset manager head quartered in Abu Dhabi Global Market (ADGM), has acquired a portfolio of five single-aisle, mid-life aircraft increasing total aircraft under management to 17 valued circa. $500m.

The portfolio is comprised of aircraft owned and managed by SMBC Aviation Capital. Sirius has entered into a joint venture with Carolous Aviation Leasing, a portfolio company of Corrum Capital Management LLC (a US-based investment firm) to acquire the aircraft.

Sirius’ share of the joint venture was funded via its commitment from its anchor investor, Abu Dhabi Catalyst Partners (ADCP). ADCP is a joint venture between Mubadala Investment Company P.J.S.C. (a sovereign investor owned by the Government of Abu Dhabi and Alpha Wave Ventures (a US investment company)).

“We are extremely pleased to have grown our relationship with Corrum Capital by acquiring these aircraft on lease to top tier airline credits availing of the attractive returns available in mid-life single aisle aircraft leasing,” said Edward Coughlan, Chief Commercial Officer & Deputy CEO of Sirius. “This brings the total aircraft acquired with Corrum Capital to 10. We look forward to further extending our relationship with Corrum over the coming years by leveraging our mutual industry relations.”

The aircraft portfolio is a mix of in-demand Boeing 737s and Airbus A320s that are leased to airline credits including Iberia, Peach (a subsidiary of All Nippon Airways), Sun Express (JV between Lufthansa & Turkish Airlines), and Volaris.

“We are pleased to expand upon our successful relationship with Sirius via the acquisition of these aircraft,” said Jason Cipriani, Co-Managing Partner at Corrum Capital commented on the transaction.  “The strategy of the joint venture is consistent with our focus on mid-life narrowbody aircraft on lease to high quality airlines globally.  Sirius has a highly experienced team, and we look forward to a continued strong relationship.”

“We are pleased to have concluded this deal with Sirius Aviation Capital and we look forward to further developing our trading partnership with Sirius as they continue to build their fleet,” added Barry Flannery, Chief Commercial Officer, SMBC Aviation Capital.

Separately, Sirius has purchased two further aircraft, an Airbus A321 on lease to ANA and a A320 on lease to Wizz Air. The aircraft were acquired from an undisclosed Japanese lessor.