26 Feb 2026
#4 February 2026: Irish Aircraft Leasing Newsletter
ASL Aviation Holdings Sells Interest in FlySafair
ASL Aviation Holdings announced the sale of its interest in Johannesburg-based low-cost airline FlySafair to Harith General Partners and its affiliates. The transaction is subject to customary regulatory approvals, including clearance from the South African Competition Commission.
Harith General Partners manages over USD 3 billion in assets and is a leading Pan-African infrastructure investor. ASL stated that the divestment follows FlySafair’s growth into a leading airline within the South African market, including expansion into international routes.
SMBC Aviation Capital Secures US$2 Billion Unsecured Syndicated Facility
SMBC Aviation Capital finalised a dual-tranche global syndicated banking facility totalling US$2 billion. The transaction comprises a US$1.5 billion 5-year tranche and a US$500 million 7-year tranche, raised from seven relationship banking partners across Asia and Europe.
Proceeds will support SMBC Aviation Capital’s commitments under the Sumisho Air Lease transaction. The inclusion of a 7-year unsecured tranche marks the first time the lessor has accessed syndicated unsecured capital at that tenor.
WSA Delivers Boeing 737-800BDSF to Swiftair
World Star Aviation completed the delivery of a Boeing 737-800BDSF to Swiftair. The aircraft will support Swiftair’s regional and intra-European cargo operations, reinforcing its narrowbody freighter capacity as part of ongoing fleet renewal initiatives.
Acumen’s Take
On ASL’s FlySafair Exit
Strategic divestments allow aviation groups to recycle capital into core platforms while unlocking value from matured investments. Infrastructure-backed buyers continue to show appetite for established low-cost carriers in growth markets.
On SMBC’s US$2 Billion Facility
Securing long-tenor unsecured funding reflects lender confidence in large-scale lessors with diversified portfolios. Extending duration enhances funding stability ahead of significant acquisition commitments.
On WSA’s 737-800BDSF Delivery
Narrowbody freighter demand remains structurally supported by regional e-commerce growth. Converted 737-800 platforms continue to provide an efficient mid-capacity cargo solution within Europe.
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