SMBC Aviation Capital agreed on Monday to buy smaller rival Goshawk Aviation for an enterprise value of $6.7 billion in a deal it said would make it the world’s second largest aircraft lessor by number of aircraft.
The acquisition to create a combined company with 37 billion euros ($38.45 billion) in assets comes six months after Ireland’s AerCap Holdings NVconsolidated its position as the world’s largest aircraft lessor through its takeover of General Electric’s leasing business.
Last year’s $30 billion AerCap acquisition was widely predicted to spur further consolidation in a sector that finances over half of the world’s passenger jet output, in deals worth around $150 billion of aircraft every year.
Read more: Reuters