GAAM, Fly Lease
Now to some fancy flying by a stellar cast of local investors who have been the force behind the country’s second-biggest aircraft leasing business Global Aviation Asset Management and have now managed to sell it to US-listed FLY Leasing for $US1.4 billion. FLY is the former Babcock and Brown aviation leasing business and boasts former B&B execs Trevor Lowensohn and Phil Brown as its advisors. The merry cast at GAAM cashing in on the deal include former Qantas boss Geoff Dixon, his former CFO and former Leighton CFO Peter Gregg, former Allco boss David Coe, John Singleton and private equity investor Mark Carnegie. This team is now looking at multiple investment opportunities and Dixon has told The Australian Financial Review that they are looking to put together a bid to take over the management of the $6 billion portfolio of RBS Aviation Capital, the fourth-largest aviation leasing company in the world.