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Abu Dhabi, United Arab Emirates – July 25, 2023

Sirius Aviation Capital Holdings Limited (“Sirius”), a global aircraft asset manager headquartered in Abu Dhabi Global Market (“ADGM”), is pleased to announce that it has executed the lease extension of 1 x Airbus A320 CEO aircraft on lease to Air France.
The aircraft, manufactured in 2009, is owned directly by Treaty Aviation Co. Ltd., a 100% subsidiary of Mubadala Capital.
JJ O’Toole, VP Commercial & Pricing of Sirius commented on the transaction:
“We are delighted to announce that Sirius Aviation has successfully extended the lease of an A320 CEO with Air France. This transaction highlights our commitment to delivering exceptional aviation services and fostering long-term partnerships. This also emphasizes our long-term focus on mid-life aircraft.”

About Sirius Aviation Capital

Sirius Aviation Capital Holdings Limited is a global aircraft lessor based in ADGM Abu Dhabi. Sirius deploys innovative strategies in the financing and acquisition of aircraft, offering investors attractive, risk-adjusted, stable, and transparent returns. Sirius primarily targets opportunities in mid-life short-haul aircraft.

For Further Information: 

Brendan Murphy

Teneo 

[email protected]

Tel +353872051111 

Abu Dhabi, United Arab Emirates – May 16, 2023

Sirius Aviation Capital Holdings Limited (“Sirius”), a global aircraft asset manager headquartered in Abu Dhabi Global Market (“ADGM”), is pleased to announce that it has executed the lease extension of 2 x Airbus A320ceo aircraft on lease to Air New Zealand.
The aircraft, manufactured in 2011, forms part of a portfolio of aircraft owned by a joint venture
between Sirius and EAVF II DAC (“a company owned by HPS Investment Partners LLC”)
Rob Bermingham, SVP Commercial of Sirius commented on the transaction:
“We are very pleased to continue our valued partnership with Air New Zealand and support the airline in its growth. The extension will see both Airbus A320ceo remain in operation with Air New
Zealand.”

About Sirius Aviation Capital   

Sirius Aviation Capital Holdings Limited is a global aircraft lessor based in ADGM Abu Dhabi.
Sirius deploys innovative strategies in the financing and acquisition of aircraft, offering investors
attractive, risk-adjusted, stable, and transparent returns. Sirius primarily targets opportunities in mid-life short-haul aircraft.

For Further Information: 

Brendan Murphy

Teneo 

[email protected]

Tel +353872051111 

Abu Dhabi, United Arab Emirates – May 30, 2022

Sirius Aviation Capital Holdings Limited (“Sirius”), a global aircraft asset manager head quartered in Abu Dhabi Global Market (“ADGM”), announced the acquisition of a portfolio of five (5) single-aisle, mid-life aircraft increasing total aircraft under management to 17 valued circa. $500m.

The portfolio is comprised of aircraft owned and managed by SMBC Aviation Capital (the “Acquisition”). Sirius has entered into a joint venture with Carolous Aviation Leasing LLC, a portfolio company of Corrum Capital Management LLC (a US-based investment firm) to acquire the aircraft. 

Sirius’ share of the joint venture was funded via its commitment from its anchor investor, Abu Dhabi Catalyst Partners (“ADCP”). ADCP is a joint venture between Mubadala Investment Company P.J.S.C. (a sovereign investor owned by the Government of Abu Dhabi and Alpha Wave Ventures (a US investment company). 

The Acquisition underpins Sirius’ investment strategy of acquiring in-demand, single-aisle, mid-life aircraft that are on lease to strong airline credits globally.

Edward Coughlan, Chief Commercial Officer & Deputy CEO of Sirius commented on the transaction:

“We are extremely pleased to have grown our relationship with Corrum Capital by acquiring these aircraft on lease to top tier airline credits availing of the attractive returns available in mid-life single aisle aircraft leasing. This brings the total aircraft acquired with Corrum Capital to 10. We look forward to further extending our relationship with Corrum over the coming years by leveraging our mutual industry relations.”

The aircraft portfolio is a mix of in-demand Boeing 737s and Airbus A320s that are leased to best-in-class airline credits including Iberia, Peach (a subsidiary of Al Nippon Airways), Sun Express (JV between Lufthansa & Turkish Airlines), and Volaris.

Jason Cipriani, Co-Managing Partner at Corrum Capital commented on the transaction:

“We are pleased to expand upon our successful relationship with Sirius via the acquisition of these aircraft.  The strategy of the joint venture is consistent with our focus on mid-life narrowbody aircraft on lease to high quality airlines globally.  Sirius has a highly experienced team, and we look forward to a continued strong relationship.”

Barry Flannery, Chief Commercial Officer, SMBC Aviation Capital commented on the transaction:

“We are pleased to have concluded this deal with Sirius Aviation Capital and we look forward to further developing our trading partnership with Sirius as they continue to build their fleet.”

Separately, Sirius announces the purchase of two further aircraft, an Airbus A321 on lease to ANA and a A320 on lease to Wizz Air. The aircraft were acquired from an undisclosed Japanese lessor. 

About Sirius Aviation Capital   

Sirius Aviation Capital Holdings Limited is a global aircraft lessor based in ADGM. Sirius deploys innovative strategies in the financing and acquisition of aircraft, offering investors attractive, risk-adjusted, stable, and transparent returns.  Sirius primarily targets opportunities in mid-life short-haul aircraft.

Sirius currently has 17 single aisle (mid-life) aircraft under management valued at circa. $500m (including the portfolio of five (5) aircraft acquired from SMBC). To acquire these aircraft Sirius has partnered with 3 other equity investors (Corrum Capital, HPS, and a New York based investment fund), in addition to its anchor equity investor ADCP.

About Corrum Capital Management LLC

Corrum Capital Management LLC is an independent, private investment firm that takes an active and asset-level approach to cashflow-oriented investing, with an emphasis on downside protection, low market correlation and diversifying characteristics.  Corrum Capital currently has active investments in multiple sectors within commercial aviation and asset and collateral-backed lending, including lending to the sports and entertainment industries. https://www.corrumcapital.com/

About Abu Dhabi Catalyst Partners

Abu Dhabi Catalyst Partners is a joint venture between Mubadala Investment Company, based in Abu Dhabi, and Alpha Wave Ventures based in New York City. ADCP was established in April 2019 with a dual mandate to achieve financial returns while also contributing to the overall development of the ADGM. ADCP seek to partner with top-tier investment firms and industry leading businesses who would benefit from developing a meaningful and sustainable presence in the ADGM.

  https://www.adcatalystpartners.com/

For Further Information: 

Brendan Murphy

Teneo 

[email protected]

Tel +353872051111 

Abu Dhabi, United Arab Emirates – June 14, 2021

Sirius Aviation Capital Holdings Limited (“Sirius”), a global aircraft lessor headquartered in Abu Dhabi Global Market  (“ADGM”), announced that it has acquired ten (10) single-aisle, mid-life aircraft from BOC Aviation, a member of Bank  of China Group during the current Covid-19 pandemic.

To acquire these aircraft Sirius entered into joint ventures with seasoned aviation investors Corrum Capital and HPS  Investment Partners. Sirius’ share of the joint ventures was funded via its commitment from its anchor investor, Abu  Dhabi Catalyst Partners (“ADCP”). ADCP is a joint venture between Mubadala Investment Company and Falcon Edge  (a US investment company).

Sirius commenced operations in ADGM during March 2020 and in just over a year has grown its fleet to 10 aircraft and  over the next three years plans to grow its fleet to 100 aircraft. The acquisition underpins Sirius’ investment strategy  of acquiring in-demand, single-aisle, mid-life aircraft that are globally on lease to strong airline credits, enabling  investors to generate attractive risk adjusted returns.

Howard Millar, Chief Executive Officer of Sirius commenting on the growth of the business at ADGM said: “We are  delighted to have grown our fleet to 10 aircraft during the worst year in the history of commercial aviation. This is  testimony to the strength of our business model, which is to acquire aircraft on lease to top tier airline credits availing  of the attractive returns available in mid-life single aisle aircraft leasing.

The growth of our business during the most difficult year in commercial aviation history enhances the reputation of  ADGM as a platform to launch an international business and transact with leading financial services counterparties on  a global basis. We have been very impressed by the support and contribution of the ADGM team in the successful  launch and growth of the business. It is further recognition of ADGM, and Abu Dhabi, as the “location of choice” for  high-growth companies that want to establish a footprint in the region and develop their business on a global basis.

We also recognize and thank our anchor investor, Abu Dhabi Catalyst Partners(“ADCP”), for their foresight, vision, and  the tremendous support given to the Sirius team.

We continue to see attractive investment opportunities in aviation as traffic volumes recover due to the global roll out of vaccines. Sirius’ plans to more than double its fleet to more than 20 aircraft in the next 12 months, and to over 100  in the next three years. We look forward to working closely with our investors, shareholders, and the ADGM team to  deliver these ambitious targets.”

About Sirius 

Sirius Aviation Capital Holdings Limited is a global aircraft lessor headquarterd in ADGM. Sirius deploys innovative  strategies in the financing and acquisition of aircraft, offering investors attractive, risk-adjusted, stable, and  transparent returns. Sirius primarily targets opportunities in mid-life short-haul aircraft. www.siriusavcap.com

About Abu Dhabi Global Market (ADGM) 

Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab  Emirates, opened for business on 21 October 2015. Established by a UAE Federal Decree as a broad-based financial  centre, ADGM augments Abu Dhabi’s position as a global trade and business hub serving as a strategic link between  the growing economies of the Middle East, Africa and South Asia and the rest of the world. ADGM’s strategy is anchored by Abu Dhabi’s key strengths spanning over private banking, wealth management,  asset management, derivatives and commodities trading, financial innovation, sustainability and more. Comprising  four independent authorities: ADGM Authority, ADGM Courts, the Financial Services Regulatory Authority and the

Registration Authority, ADGM as an IFC governs the entire 114 hectares (1.14sqkm) of Al Maryah Island which is a  designated financial free zone.

It enables registered financial and non-financial institutions, companies and entities to operate, innovate and  succeed within an international regulatory framework based on common law. Since its inception, ADGM has been  awarded the “Financial Centre of the Year (MENA)” for four consecutive years for its initiatives and contributions to  the financial and capital markets industry in the region.*

* Source: The Global Investor Middle East and North Africa (MENA) Awards

About Corrum Capital 

Corrum Capital Management LLC is an independent, private investment firm with ~ $1.5bn of AUM and has co invested in 70+ aircraft. Corrum that takes an active and asset-level approach to cashflow-oriented investing. Corrum  Capital currently has active investments in commercial aviation leasing, railcar leasing, and asset- and collateral backed lending, including lending to the sports and entertainment industries, real estate lending, and trade and  receivables finance.

About HPS Investment Partners 

HPS Investment Partners is a leading global investment firm that seeks to provide creative capital solutions and  generate attractive risk-adjusted returns for our clients. It manages various strategies across the capital structure that  include syndicated leveraged loans and high yield bonds to privately negotiated senior secured debt and mezzanine  investments, asset-based leasing and private equity. The scale and breadth of its platform offers the flexibility to  invest in companies large and small, through standard or customized solutions. At HPS’ core, it shares a common  thread of intellectual rigor and discipline that enables it to create value for our clients, who have entrusted it with  approximately $69 billion of assets under management as of April 2021.

About Abu Dhabi Catalyst Partners 

Abu Dhabi Catalyst Partners is a joint venture between Mubadala Investment Company, based in Abu Dhabi,  and Falcon Edge Capital, based in New York City. ADCP was established in April 2019 with a dual mandate to achieve  financial returns while also contributing to the overall development of the ADGM. ADCP seek to partner with top-tier  investment firms and industry leading businesses who would benefit from developing a meaningful and sustainable  presence in the ADGM. https://www.adcatalystpartners.com/

For Further Information: 

Nicholas McDonagh
Teneo
[email protected]
Tel +971 504572394

Brendan Murphy
Teneo
[email protected]
Tel +353 872051111

10 Jun 2021 11:32 GMT+01:00
Oliver Clark (London)

Sirius Aviation Capital plans to grow its fleet to 100 narrowbody aircraft within the next three years with chief executive Howard Millar eyeing opportunities to acquire assets from both lessors and airlines. In an interview with Cirium, Millar says he is confident that the Abu Dhabi-headquartered lessor can expand from a base of 10 aircraft currently to 25 by the end of 2021 and 100 units by 2024.
“Our plan is to continue to scale the platform within three years I certainly believe we should be looking at about 100 aircraft,” he says. Sirius specialises in investing in mid-life Boeing 737 NGs and Airbus A320s with leases attached. The lessor has purchased 10 aircraft so far: six Southwest, two Air New Zealand, one Spirit and one Etihad, all from BOC Aviation.
Beyond direct trades with lessors, Millar says Sirius is actively working on direct transactions with airlines. “We don’t just see ourselves as sourcing portfolios exclusively from other lessors, we want to engage directly with airlines who own a lot of mid-life aircraft and work with them in terms of efficiently managing their fleets,” he says.
Millar describes the opportunity as working with airlines that may want to manage their transition to a new aircraft order or want to finance existing owned aircraft. For example, an airline may want to sell an aircraft and lease it back for four years to bridge to an order for new A320-family Neo or 737 Max units. In other cases, the aircraft maybe under ECA financing or other types of traditional bank debt financing and that expires after 12 years and they are looking to put another financing structure in place on the aircraft, Millar adds. “I believe airlines are increasingly wary of what I would describe as pure financial investors, who really don’t understand the business, who are sourcing their money from various funds and private equity. They aren’t able to respond to the airline and deal with any issues that arise because they don’t have the technical knowledge and experience within their business,” he says.
Where Sirius does trade with other lessors, Millar notes that the company primarily conducts bilateral trades rather than competing with multiple other players. “We are not really interested in looking at the RFPs [request for proposals] that maybe issued by certain parties that are sent round to 40 or 50 parties. We are interested in bilateral transactions, we have proven we can price, negotiate, and are cash buyers who can complete transactions in short order,” he observes.
Even as the pandemic has placed unprecedented stress on airline’s balance sheets, the threat of climate change and environmental, social and governance (ESG) issues have continued to put pressure on the aviation sector to retire older units and replace them with more fuel efficient models. Millar is confident that this focus on new technology aircraft is not a threat to Sirius’s focus on mid – life (8 to 12 years old) narrowbodies as demand will outstrip supply from the OEMs. “If somebody decided that anything older than eight years old cannot fly anymore the whole aviation world would collapse, because Boeing and Airbus can’t manufacture them quickly enough to replace these aircraft”, he says.
Millar says that changing the sector is going to take time, and the 737 NG and A320 ceo models will be in operation for many years to come. As Sirius targets growth over the coming years, Millar says the lessor is well placed in the Abu Dhabi Global Market (“ADGM”), being at the global crossroads of
trade and markets. “We have direct access to pretty much of all of Asia – and as we know most of the orders are coming from Asia – and we would see that as a key target for us. But on the other hand then you have direct connectivity into Dublin which is the major centre of aircraft trading and where the market is”.
Millar sees opportunities to further expand the Sirius team in ADGM as the recovery in the aviation sector continues, the lessor also has an office in Dublin focused on aircraft trading. Sirius Aviation Capital is majority owned by its management team.
Abu Dhabi Catalyst Partners, a joint venture between Mubadala Investment Company (Abu Dhabi) and Falcon Edge Capital, New York, owns a significant minority stake. Millar says that Sirius’s shareholders have been incredibly supportive of its growth plans. He says that the company’s backers have invested permanent capital and accordingly are not looking for short terms return and exit, and are thus fully committed to the business for the long-term.