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Qatari Bank Unit to Acquire Amedeo’s Widebody Aircraft Portfolio

Qatari Bank Unit to Acquire Amedeo’s Widebody Aircraft Portfolio
Expansion of Lesha Bank’s Aviation Leasing Business
Lesha Bank, a Qatar-based financial institution, is poised to acquire a portfolio of 12 widebody aircraft from Amedeo’s Air Four Plus, an aircraft asset management company. This acquisition marks a significant expansion of Lesha Bank’s aviation leasing operations. The portfolio includes six Airbus A380s and two Boeing 777-300ERs, all currently operated by Emirates, alongside four Airbus A350-900s leased to Thai Airways International.
The transaction will be carried out through Lesha Aviation Capital, the bank’s dedicated aviation leasing division, via a newly established entity named LAC 10. Lesha Aviation Capital already manages a fleet of 15 widebody aircraft, comprising four A350-1000s, five 777-300ERs, and six Boeing 787s, which are leased to a global flag carrier and a Gulf Cooperation Council airline.
Strategic Acquisition Amid Market Challenges
Amedeo Air Four Plus, based in Guernsey, has encountered significant difficulties in recent years, including the adverse effects of the Covid-19 pandemic, sustained high inflation, and rising interest rates. These factors have contributed to a challenging market environment and uncertainty surrounding certain assets. The company’s share price has consistently traded below its asset value, prompting the board to explore strategic options to enhance shareholder returns.
Following consideration of various alternatives, including a potential sale to third parties, the board accepted an unsolicited offer from Lesha Bank. Under the terms of the agreement, Lesha Bank will acquire the entire share capital of Air Four Plus in a cash transaction valued at £190 million ($255 million), with shareholders receiving £0.73 per share. The deal implies an enterprise value of £751 million.
Stephan Sayre, co-chief of Lesha Aviation Capital, described the acquisition as a strategic alignment with the division’s long-term objectives. He emphasized that the portfolio represents a valuable collection of assets supported by long-term contracted cash flows, framing the deal as a critical step in building a global aircraft leasing portfolio.
Market Implications and Industry Response
The acquisition occurs amid ongoing challenges in the widebody aircraft sector, notably persistent supply chain disruptions affecting widebody freighter manufacturing. These issues continue to constrain capacity and may influence the operational performance and returns of the acquired aircraft. Industry reactions to the deal are expected to be mixed. While some analysts view the acquisition as a means for Lesha Bank to secure stable, long-term revenue streams, others express concern about the potential impact of supply chain bottlenecks on asset reliability.
Competitors in the aviation investment sector are likely to observe the transaction closely. Given the sustained demand for widebody aircraft, this acquisition may prompt rival investors to reevaluate their portfolios and strategic approaches in response to evolving market conditions.
This transaction highlights the ongoing transformation within the global aircraft leasing market, as financial institutions seek to navigate and capitalize on the complex opportunities and challenges presented by a rapidly changing aviation landscape.

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