What Happened
Japanese Trading Company Expands Aerospace Business
Japanese trading company Itochu plans to acquire a 50% stake in Aviation Capital Group, a leading aircraft leasing company, for $1.95 billion. The deal will place ACG under joint ownership and management by Itochu and Tokyo Century, with the goal of expanding ACG’s new-aircraft leasing operation and increasing its competitiveness in the global market. ACG currently leases aircraft to 85 airlines in 50 countries, with a fleet consisting mainly of narrowbody aircraft. The acquisition is subject to regulatory approval and other closing conditions, as reported by AeroTime.