Marubeni completes purchase of Aircastle amid aviation crisis
30/03/2020 10:50
TOKYO, March 30 (Reuters) - Japanese trading company
Marubeni Corp 8002.T said on Monday it had completed the
acquisition of a U.S. aircraft lessor Aircastle Ltd, making the
purchase when the airline industry is in crisis due to the
global coronavirus pandemic.
The worldwide aviation industry has come almost to a
standstill as measures to halt the spread of the coronavirus
have put roughly 3 billion people on lockdown.
Marubeni, which already owned a 28.8% stake in Aircastle,
paid $1.142 billion to raise its stake to 75% under a deal
signed in November. Japanese leasing firm Mizuho Leasing Co Ltd
8425.T paid $611 million to take the remaining 25%.
urn:newsml:reuters.com:*:nL3N27M33A
Last week, Marubeni predicted a record net loss of 190
billion yen ($1.8 billion) for the year ending this month, as
the coronavirus outbreak drives an unprecedented oil price slide
and falls in other commodities. urn:newsml:reuters.com:*:nL4N2BI23H
($1 = 107.5600 yen)
(Reporting by Yuka Obayashi; Editing by Edmund Blair)
((Yuka.Obayashi@thomsonreuters.com; +813-4563-2761;))