RBS to raise £4bn with sale of aircraft leasing arm
23 Jul 2011
The Royal Bank of Scotland yesterday put up its aircraft leasing business for sale, a transaction it hopes will raise more than £4 billion. This will be the biggest disposal of assets for the bank which was bailed out by the taxpayer in the fallout of the global financial crisis.
Reportedly, Goldman Sachs is to oversee the transaction.
Dublin-headquartered, RBS Aviation Capital is one of the world's largest leasing companies with a fleet-size of around 260 planes.
Market observers valued the business at between $6.8bn (£4.2bn) and $8bn.
An RBS spokesman said: "The sale process for RBS Aviation Capital is under way following significant expressions of interest from potential bidders in the business in recent months.
"RBS Aviation Capital's management team has delivered strong business and financial performance over the past decade and it remains among the top four commercial aircraft lessors by fleet value, with one of the youngest fleets of narrow-bodied aircraft globally."
