Commercial Aviation Investment Banking
Curious if anyone has experience in the commercial aviation / aircraft financing IB space.
What’s the general workflow like, who are the major players, and what do exits typically look like? Any perspective would be appreciated.
what type of aircraft stuff, aircraft leasing or airlines?
Workflow - Depends on your shop's product capabilities but usually decent flow consisting on Term Loans, Warehouse Facilities, JOLs and JOLCOs for financing.
Major Player - French Banks (BNPP, CACIB, SocGen to a lesser extent), Japanese Banks (SMBC, MUFG) then followed by lots of smaller players - NatWest, FCB, KfW IPEX, Airbus Bank, HSBC, Investec, etc... each playing in their own niche. This is for financing banks only, in terms of Advisory - BAML is up there with the T1's.
Exits - Other aviation banks, Lessors
Perspective.- decent mix of structures from corporate style financings to ECA wrapped deals to A/B structures to JOL structures, the various tax leases, etc... Product can be wide, complexity can be deep, small world where everyone knows everyone as only two OEMs (Airbus/Boeing) so everyone works with them.
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