Goldman Sachs to advise RBS on sale of aviation leasing arm
09 Sep 2009
Royal Bank of Scotland is mulling options for its $8 billion aircraft leasing business and reports have it that Goldman Sachs has been appointed as sole adviser on the sale of RBS Aviation Capital, the world's fourth largest aircraft leasing company.
RBS Aviation Capital was identified as a non-core asset in March 2009 as part of the bank's restructuring. No formal timetable has been set for the sale.
RBS Aviation Capital owns 226 aircraft, and is worth £4.9bn ($8 billion). A successful sale, it is felt, would help the struggling bank straighten its balance sheet somewhat.
Such a sale would look at Bank of China's purchase of Singapore Aircraft Leasing Enterprise in 2006 as a likely source of inspiration. Industry analysts feel a likely buyer of RBS Aviation Capital may well be another Chinese bank.