By Business & Finance 
AerCap Holdings N.V., the leader in aircraft leasing, announces that it is selling a 21-aircraft portfolio to Peregrine Aviation Company Limited.
Peregrine was established by NCB Capital, which holds $37 billion of assets under management and is a brokerage arm of the largest bank in Saudi Arabia, National Commercial Bank.
As per the agreed deal, worth $800 million, AerCap will supply Peregrine with lease management services and will retain an equity interest in the business. The 21-aircraft portfolio revolves around a mix of wide- and narrow-body aircrafts.
The CEO of AerCap, Aengus Kelly, said: “This transaction with NCB Capital is a clear demonstration of the attractiveness of our aviation assets globally.”
He went on to say: “With this sale, AerCap will have sold or contracted to sell approximately $2.4bn of mid-life assets in 2017. The transaction is further evidence of the reach of the AerCap platform and our disciplined approach to portfolio management. We thank NCB Capital for their confidence in AerCap and we look forward to working with the Peregrine team in the future.”
The CEO of NCB Capital, Sarah Al Suhaimi, said: “Aircraft leasing is a fast-growing industry that offers a unique and attractive diversification opportunity. We are delighted to have partnered with AerCap, the global leader in aircraft leasing, in this transaction that is the first of its kind in our market.”
