Castlelake has completed the sale and leaseback of four Boeing 787 aircraft from Scoot with a 12-year lease term. The aircraft have been acquired by a subsidiary of Castlelake Aviation.
Scoot is a low-cost carrier based in Singapore and a wholly-owned subsidiary of Singapore Airlines Group, servicing routes across Asia, Australia, the Middle East and Europe. To date, Scoot has carried over 67 million passengers, and owns a fleet of 60 aircraft, comprising widebody Boeing 787 Dreamliners and single-aisle Airbus A320 family aircraft. This transaction underscores Scoot’s commitment to continue strengthening its business through fleet renewals.
BNP Paribas and Australia and New Zealand Banking Group (ANZ) separately provided debt financing for two aircraft each.
This deal was recently awarded the Airline Economics Aviation 100 Asia-Pacific Lease Deal of the Year 2022. Full details of the awards are Issue 70 of Airline Economics to be published shortly.
Castlelake has been an active participant in the aviation sector since the firm’s inception in 2005 and has invested over $17 billion in aviation opportunities. Recent activity includes the close of the firm’s fourth aviation fund, Castlelake Aviation IV Stable Yield, at $1.5 billion; and the formation of Castlelake Aviation, a corporate lessor of commercial aircraft that will finance a portfolio of modern, young, fuel-efficient aircraft.