A joint venture of LCI, an aerospace subsidiary of Libra Group, and Sumitomo Mitsui Finance & Leasing Co. (SMFL) has agreed to acquire Macquarie Rotorcraft Limited (MRL), a helicopter leasing company under the umbrella of Macquarie Transportation Finance Limited.
The joint venture between SMFL and LCI for helicopter operating leasing was launched in 2020. Subsequently, in 2023, the joint venture’s combined fleet reached the second largest in the industry.
MRL is a global helicopter leasing company headquartered in the United Kingdom. Established in 2013, it has a fleet of about 120 leased aircraft and is part of Macquarie Group Limited, a global financial services group with over $A774 billion of assets under management.
With the acquisition of MRL, the LCI joint venture will increase the number of aircraft owned, managed, and ordered to approximately 310 aircraft. It will also pursue further expansion of its customer base and synergies with its existing businesses. LCI will manage the newly combined company.
Adamantios Tomazos, Senior Executive Member of Libra Group’s Board of Directors and LCI Board Member, stated, “When we created LCI in 2004, it was always the vision of Libra Group that the company would pursue strategic partnerships to achieve growth at scale. Through this joint venture with SMFL, a global organization that has a rich and profound history with which we have deeply shared values, LCI is positioned to meet today’s and tomorrow’s helicopter leasing needs.”
LCI was founded in 2004 by Libra Group, a privately run business group. Since its inception, it has completed more than $11 billion in transactions.
The company maintains a fleet of young, modern aircraft leased to some of the world’s leading airlines and helicopter operators. LCI is also investing in the future of sustainable aircraft, including through an agreement with Elroy Air to acquire up to 40 of the company’s Chaparral vertical take-off and landing (VTOL) aircraft.
LCI also signed a deal with BETA Technologies to acquire up to 125 electric vertical take-off and landing (eVTOL) aircraft. Upon the delivery of new orders, LCI will have a fleet of approximately 325 aircraft that will be leased across the world.
In addition to aerospace, Libra Group has a portfolio of 20 subsidiaries in sectors including hospitality, maritime, real estate, renewable energy, and diversified investments.
Related: Libra’s George Logothetis on Business and Philanthropy in Greece
