IAT Leasing acquires two Boeing 787-9 widebody aircraft for Middle East operations

IAT Leasing, an Ireland-based aircraft lessor, has acquired two 2017-vintage Boeing 787-9 aircraft currently on lease in the Middle East on behalf of funds managed by Blue Owl Capital, according to Aviator.

The aircraft were previously managed by SMBC Aviation Capital, with IAT providing ongoing lease administration and asset management services.

The transaction represents a significant milestone for IAT, marking its first Boeing 787-9 aircraft under management, the introduction of next-generation widebody assets into the portfolio, and the firm's first transaction in the Middle East. The acquisition strengthens IAT's growing relationship with Blue Owl Capital.

Martin Browne, chief executive officer of IAT, stated the firm was pleased to complete the transaction and partner once again with Blue Owl Capital. He noted the acquisition represents a meaningful step forward in the partnership and reflects confidence in the long-term fundamentals of the Boeing 787-9, which remains one of the most sought-after widebody aircraft globally.

Daniel Rosato, Managing Director within Alternative Credit at Blue Owl Capital, described the transaction as the Blue Owl Alternative Credit team's inaugural acquisition of the Boeing 787-9 asset type and the initiation of its leasing relationship with a leading Middle Eastern flag carrier. The transaction reflects belief in the long-term strengths of both the Boeing 787-9 and IAT Leasing, alongside a positive outlook on aviation in the Middle Eastern region.

Pillsbury Winthrop Shaw Pittman LLP acted as acquisition lead counsel, whilst KPMG Ireland advised IAT on tax matters. Clifford Chance acted as seller counsel, and Clyde & Co acted as lessee counsel.

View the complete announcement on IAT Leasing's Boeing 787-9 acquisition and Middle East expansion in the full story.