Shearwater Aero Capital, a global corporate aviation finance specialist, enjoyed strong growth in 2018, with the year representing around 60 per cent of its business to date since its launch in 2014.
The combined value of aircraft Shearwater Aero Capital has now provided funding against has surpassed USD100 million (USD104 million) for the first time. It has provided loans worth USD65 million to 15 business aircraft around the world, including the US, Europe, Asia, the Middle East and Africa.
Chris Miller, Managing Partner, Shearwater Aero Capital, says: “We are enjoying very strong growth, and this reflects a number of factors. The deep expertise we have in business aviation finance within our team, global growth in the number of aircraft, and the lack of lenders offering true asset-based financing options for business aircraft purchasers particularly in emerging markets.”
Shearwater can support financing for all types of business aircraft, but to date much of its work has focused on older jets, aged 10 years or more. In 2018 Shearwater’s average loan size was approximately USD7 million, and it has provided loans from USD1.5 million to USD15 million for a range of aircraft from a Hawker 400 XP to a Bombardier Global 5000. Its average loan to value is 65 per cent.
Shearwater is currently raising further funds from family offices, private equity firms and financial institutions to support its strong growth. It is providing its private investors with an average Return on Investment (ROI) of between 13 per cent and 15 per cent.