Royal Bank of Scotland confirms sale process for RBS Aviation Capital underway
Royal Bank of Scotland confirmed the sale process for its RBS Aviation Capital aircraft leasing business is underway “following significant expressions of interest from potential bidders in the business in recent months" (Wall Street Journal, 25-Jul-2011). RBS added that it will not be commenting further during the sales process. RBS Aviation has ownership or management of, or orders for, 466 aircraft, potentially valuing the asset at USD6 billion to USD8 billion. Up to seven potential bidders are reportedly expected to receive sale documents for the company and have been asked to submit initial bids by mid-Aug-2011. An earlier attempt to sell the unit was abandoned in 2010, after the global financial crisis caused a slump in market confidence.