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COVID to speed up consolidation of aircraft leasing industry -SMBC By Reuters

© Reuters. FILE PHOTO: Airplanes sit on the tarmac at the site of French aircraft storage and recycling company Tarmac Aerosave in Tarbes following the coronavirus disease (COVID-19) outbreak in France, June 19, 2020. Picture taken June 19, 2020. REUTERS/Stephane Ma

DUBLIN (Reuters) – Consolidation of the global aircraft leasing industry is likely to be accelerated by COVID-19, the head of one of the world’s five largest lessors, SMBC Aviation Capital, said in an interview on Tuesday.

“You were always going to see increasing levels of consolidation and… I believe it is likely that the events of the last 18 months are likely to probably accelerate that a bit,” Chief Executive Peter Barrett said.

Barrett, who estimated the leasing industry owns over 40% of the global passenger fleet, said that if any opportunities “present value and fit into our strategy, we’ll certainly have a look at them.”

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