IAT Leasing (“IAT”) is pleased to announce the acquisition of two (2) 2017-vintage Boeing 787-9 aircraft, currently on lease in the Middle East. The aircraft were acquired on behalf of funds managed by Blue Owl Capital. IAT will provide ongoing lease administration and asset management services for the aircraft.

The aircraft were previously managed by SMBC Aviation Capital.

This 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 further strengthens IAT’s growing relationship with Blue Owl Capital.

Martin Browne, Chief Executive Officer of IAT, commented: “We are pleased to complete this transaction and to partner once again with Blue Owl Capital. This acquisition represents a meaningful step forward in our partnership and reflects our 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, commented: “The Blue Owl Alternative Credit team is excited to announce its inaugural acquisition of the Boeing 787-9 asset type and to initiate our leasing relationship with a leading Middle Eastern flag carrier. This transaction reflects our belief in the long-term strengths of both the Boeing 787-9 and IAT Leasing, as well as our positive outlook on aviation in the Middle Eastern region.”

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