Marubeni and Mizuho Leasing Fund 300 Million USD as the Second Tranche of a 500 Million USD Equity Commitment in Aircastle

Jul. 02, 2024
Marubeni Corporation
Mizuho Leasing Company, Limited

Marubeni Corporation (hereinafter, “Marubeni”) and Mizuho Leasing Company, Limited (hereinafter, “Mizuho Leasing”) have funded 300 million USD as the second tranche of a 500 million USD commitment as additional common shares in Aircastle Limited (hereinafter, “Aircastle”), based on a definitive subscription agreement executed in July 2023. Funding for the first tranche of 200 million USD was completed in July 2023.

Aircastle will continue to contribute to the sustainable growth of the aviation industry by providing financial support to airlines, including through the leasing of the most fuel-efficient low emissions aircraft, and will use these funds for general corporate purposes, especially aircraft acquisition for business growth.
In 2024, the passenger numbers for air travel globally will reach 4.7 billion*1, exceeding the levels of 2019, before the advent of the COVID-19 pandemic. Going forward, the demand for air travel is projected to grow at an average annual rate of 4% through 2043*2, based on the recovery of air travel demand, and the aircraft leasing industry is currently once again experiencing a growth trend. Aircastle’s financial performance has also been improving due to its steady aircraft purchase and sales activities.

Since its initial investment in Aircastle in 2013, Marubeni, as Aircastle’s largest shareholder, has been providing continuous support for its business growth, including dispatchments of management personnel. In addition, following their joint acquisition of Aircastle in 2020, Marubeni and Mizuho Leasing have engaged in increasingly proactive support measures, such as the establishment of a revolving credit facility by the shareholder group and equity support. Marubeni and Mizuho Leasing will seek to enhance the operating base of Aircastle, a core business in Marubeni’s finance and leasing operations and Mizuho Leasing’s aviation operations, respectively.

*1 Source: IATA website
*2 Source: IATA “Global Outlook for Air Transport”

Overview of Aircastle Limited
Company Name: Aircastle Limited
Headquarters: Connecticut, U.S.
Established: 2004
Representative: Michael J. Inglese (CEO)
Paid-in Capital: 1.679 billion USD (as of February, 2024)
Main Business: Aircraft leasing

Related news releases:
・March 30, 2020
Marubeni and Mizuho Leasing Complete the Acquisition of Aircastle Limited

・July 6, 2023
Marubeni and Mizuho Leasing to Provide Equity Support to Aircastle Limited