27 Nov 2025
#3 November 2025: Irish Aircraft Leasing Newsletter
Genesis Closes $650 Million Credit Warehouse Facility to Support Expansion
Genesis announced that it has successfully closed and upsized a US$650 million warehouse facility, adding a new lender to further strengthen its funding base. The facility was led by Citi, with Morgan Stanley, Bank of America, Deutsche Bank and BayernLB participating as co-lenders. CFO Adam Smyth said, “I am delighted to announce the closing of our warehouse facility and am grateful for the continued support from Citi, Morgan Stanley, Bank of America and BayernLB, while welcoming Deutsche Bank as a new lender. The upsized facility positions us well to support future growth initiatives and strategic options into 2026 and beyond, ensuring we have the flexibility to meet current market opportunities.” The transaction enhances Genesis’s liquidity profile as it prepares for planned portfolio expansion next year.
IAT Leasing Acquires Two Boeing 737-800 Aircraft
IAT Leasing announced the acquisition of two 2012-vintage Boeing 737-800 aircraft (MSNs 38069 and 38070) from Itochu Corporation on behalf of funds managed by Taconic Capital Advisors. Both aircraft were acquired with operating leases in place to Garuda Indonesia. The deal marks a repeat transaction between IAT and Itochu. CEO Martin Browne said, “This transaction continues the disciplined expansion of our managed aircraft fleet and reinforces the strong partnerships we are building with global trading houses and leading airlines. We are pleased to complete another successful deal with Itochu and to support Garuda Indonesia with high-quality, in-demand 737-800 aircraft.”
Novus Aviation Capital Places A350s with Ethiopian Airlines
Novus Aviation Capital announced the placement of two Airbus A350-900 aircraft with Ethiopian Airlines during the Dubai Airshow 2025. The signing ceremony took place at the Airbus Chalet and marks another milestone in the long-standing partnership between the companies. Co-CEO Mounir Kuzbari stated, “Ethiopian Airlines has long been a key customer for Novus, and we are proud to continue working with the airline as it expands its fleet with additional A350 aircraft. This collaboration highlights our ability to source capacity that meets the evolving needs of our airline customers.” The placement supports Ethiopian’s ongoing widebody expansion strategy.
Acumen’s Take
On Genesis’s Warehouse Facility
The US$650 million upsized facility strengthens Genesis’s balance sheet and provides a scalable funding base ahead of 2026 portfolio growth. The addition of a new lender also signals confidence in the platform’s credit profile and long-term strategy.
On IAT Leasing’s 737-800 Acquisitions
IAT’s acquisition of two mid-life 737-800s with leases attached reinforces continued demand for workhorse narrowbodies in Southeast Asia. The repeat cooperation with Itochu demonstrates the effectiveness of IAT’s relationship-driven trading model.
On Novus’s Ethiopian A350 Placement
Novus’s placement of A350-900s with Ethiopian Airlines highlights strong widebody demand across Africa’s major flag carriers. Ethiopian’s long-haul expansion and Novus’s sourcing capabilities align well, deepening a partnership built on consistent fleet modernisation.
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