Macquarie AirFinance to Acquire $1.1B Aircraft Portfolio from ALAFCO

Macquarie AirFinance agreed to acquire an additional portfolio of 23 aircraft from ALAFCO Aviation Lease and Finance Company for approximately $1.1 billion.

The portfolio consists of predominantly new technology commercial passenger aircraft with an average age of approximately five years. The portfolio is currently leased to 10 airlines located in nine countries. The transaction is in addition to Macquarie AirFinance’s existing agreement with ALAFCO  to purchase a portfolio comprising 53 aircraft and an order book of 20 Boeing 737 MAX aircraft for approximately $2.2 billion. The current transaction increases the total number of Aircraft that Macquarie AirFinance intends to acquire from ALAFCO to 76.

The transaction was approved by ALAFCO shareholders at an extraordinary general meeting on Feb. 19. Completion of the transaction is expected in Q2/24 following the satisfaction of customary closing conditions.

“We are pleased to expand our collaboration with ALAFCO through the acquisition of this attractive portfolio of aircraft,” Eamonn Bane, CEO of Macquarie AirFinance, said. “The aviation sector’s strong recovery has continued, with domestic and international travel rebounding from pandemic lows in key markets. As we prepare for the future, the addition of these aircraft to our portfolio further enhances the scale and age of our fleet while helping ensure we can meet the growing demand of our partner airlines for more efficient aircraft.”

“I wish Macquarie AirFinance every success with its strategy of furthering its continued business growth with the addition of this portfolio of 23 aircraft, which underscores our confidence in Macquarie AirFinance,” Adel Albanwan, CEO of ALAFCO, said. “I also want to thank my ALAFCO colleagues, whose commitment to building an outstanding portfolio over the past three decades has enabled the success of the combined portfolio sale to Macquarie AirFinance. ALAFCO’s board of directors intend to explore alternatives for the future of its global aviation business after completing all the procedures for selling the remaining aircraft in the company portfolio.”

Macquarie AirFinance is a provider of aircraft leasing and financing solutions. Following this transaction, its portfolio will include 240 aircraft leased to 87 airlines across 47 countries and a firm orderbook of 66 new technology Boeing and Airbus aircraft. With offices in Dublin, London, San Francisco and Singapore, Macquarie AirFinance is owned by Macquarie Asset Management, PGGM Infrastructure Fund and Australian Retirement Trust.

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