Mitsubishi (MC), through its 100% subsidiary MC Aviation Partners (MCAP), entered into an agreement with Cheung Kong Holdings (CK) to newly establish a joint venture dedicated to aircraft leasing.

CK will own 60% and MCAP 40% of the JV. Based on the agreement, MCAP will transfer to the JV a seed portfolio of 15 aircraft, out of the approximately 100 aircraft that it owns or manages. The JV will open offices in Hong Kong and Ireland, two key hub stations in aircraft lease and financing. The JV will also enter into a servicing agreement with MCAP, who will introduce/ evaluate/ recommend deals for the JV to purchase/ sale/ remarket aircraft assets. The JV will also raise capital from a syndication of financial institutions.

CK is the flagship of the Cheung Kong Group, a Hong Kong-based multi-national conglomerate.