Irish aircraft lessors Genesis and Macquarie AirFinance set up for potential sales

Irish-based aircraft leasing firms Genesis and Macquarie AirFinance are preparing for potential sales according to a report by The Irish Times, reflecting ongoing consolidation in the global aviation leasing market. 

Genesis, supported by the Ireland Strategic Investment Fund, operates a fleet of 70 Boeing and Airbus jets. Its 2024 accounts show $1.1 billion (€924 million) in assets and $445 million (€374 million) in equity. Founded in 2014 by global investment fund Barings, Genesis recently hired Goldman Sachs to conduct a strategic review, including a potential sale.

Macquarie AirFinance, a division of Australian merchant bank Macquarie, manages 225 aircraft valued at approximately $6.4 billion (€5.38 billion) from its Dublin office. Aviation intelligence provider Cirium reports that up to six bidders have expressed interest in the business.

Industry sources emphasise that Ireland remains a hub for aircraft leasing and aviation finance. Growth in air travel demand, combined with limited aircraft supply, has elevated asset values and spurred sector consolidation. 

The trend began with AerCap’s €25 billion acquisition of GE Capital Aviation Services in 2021, followed by SMBC Aviation Capital’s €1.5 billion acquisition of Goshawk in 2022. SMBC is also awaiting regulatory approval for its purchase of Air Lease Finance.

Denis Hogan, managing director of aviation consultancy Alton, noted that mid-sized lessors are in an attractive position for shareholder exits. Jim Morrison, chief risk officer at Dublin-based lessor Avolon, added, “consolidation is continuing to play out in the leasing sector,” reflecting the ongoing reshaping of global aircraft ownership. AerCap, SMBC, and Avolon collectively control roughly 15 per cent of the world’s aircraft fleet by value.

These anticipated transactions highlight continued strategic activity in Ireland’s aviation finance market, signalling further consolidation and value realisation opportunities.

Read the full story on Ireland’s aircraft leasing deals and industry outlook.