Global Jet Capital flies off with GE leases

Separately, Global Jet Capital has announced it is to acquire around $2.5 billion of net assets which form the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas. As part of this transaction, the GE Capital Corporate Aircraft team will join the Global Jet Capital organization.

Global Jet Capital, which was launched last year, is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners; The Carlyle Group; and AE Industrial Partners. It is a provider of financing solutions for large cabin, long‑range private jets.

Shawn Vick, executive director of Global Jet Capital said: “We are investing heavily in growing the business both organically and through strategic acquisitions such as this one with GE. This is a prime example of our industry expertise and investment capital coming together to evaluate and identify an opportunity to expand the business in a disciplined, carefully measured way.”

Vick added: “This is a remarkable portfolio of corporate aviation assets, and this investment underlines our confidence in the long‑term growth prospects of the large cabin, long-range private jet market.”

“The price point of these aircraft range between $25 and $75 million on average, and corporate users and high net worth individuals will seek competitive financing solutions rather than allocate their own cash resources which are better invested in their own businesse,” he explained.

GE Capital said that in building the corporate aircraft portfolio, it had adhered to the most comprehensive underwriting and asset evaluation practices as well as industry-leading documentation and collateral securing processes.

“We are pleased to sell our corporate aircraft financing portfolio to Global Jet Capital, a buyer that is fully committed to investing and growing the business,” said Keith Sherin, GE Capital chairman and CEO. “We know our customers will benefit from the combined strength and expertise of the Global Jet Capital team and will continue to receive the high level of service they have come to expect from us,” he added.

Global Jet Capital’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.