IAT Leasing has closed the acquisition of a portfolio of nine narrowbody aircraft from Zephyrus Aviation Capital on June 27, 2025.
The portfolio comprises a mix of Boeing and Airbus aircraft types leased to eight airlines in eight jurisdictions, operating across North America, Europe and Asia. IAT Leasing CEO Martin Browne said on LinkedIn that the deal was “really complex” due to the various jurisdictions, lessees, and aircraft types to work through. He said the “full support” of its investment partner Blue Owl Capital had made “things easier” to close the deal.
“This transaction marks another important milestone in the growth of our platform," said Browne. "We are pleased to expand our footprint across three continents with a well-diversified set of lessees and aircraft types.”
Magnus Stephensen, chairman of IAT Leasing added: “This transaction reflects IAT Leasing’s continued commitment to growing a globally diversified portfolio of in-service narrowbody aircraft.
The aircraft were acquired on behalf of funds managed by Blue Owl Capital and financed via a senior secured loan facility provided by PK AirFinance.
“This transaction demonstrated the team’s ability to navigate a high degree of complexity across geographies and operators to provide a comprehensive capital solution to Zephyrus Aviation Capital,” said Blue Owl head of alternative credit Ivan Zinn.
“The transaction with IAT and Blue Owl was executed efficiently, timely and in a practical manner, allowing all parties to maximise results,” added Zephyrus Aviation Capital chief commercial officer Marijn Kappen.
“Our team rose to the challenge and after seeing them in action again and again, I couldn't be prouder of what we have built over the last two years," said Browne.
He added that the deal brings the company close to 30 aircraft under management. The company said it more deals are expected to be announced soon.
Pillsbury acted as transaction counsel to IAT and Blue Owl. Vedder Price acted as transaction counsel to Zephyrus and PK AirFinance. Mason Hayes & Curran acted as Irish counsel to IAT. KPMG provided tax advice.