Airborne Capital

What Airborne Capital does

Airborne Capital Limited is a Dublin-based specialist aircraft asset manager founded in November 2017 that originates, structures, finances, leases, and remarkets commercial aircraft on behalf of institutional investors, airlines, and Japanese investor clients. The firm manages more than US$2 billion in aircraft assets and offers a diversified product set spanning bespoke investment mandates, the closed-ended MACH I fund (approximately US$400 million) and the open-ended MACH OE fund (targeting approximately JPY 150 billion) for Japanese investors, Japanese Operating Lease (JOL) products through the Daiwa Airborne joint venture, and aviation ABS transactions including the inaugural US$637 million Tailwind 2019-1 and the US$303.7 million MAST 2022-1, plus the AltitudeOne Aviation joint venture with LetterOne (US$250 million commitment).

The firm's competitive platform is anchored by a proprietary airline credit risk scoring model that integrates financial, operational, and credit performance metrics, an AI-enhanced due diligence platform covering technical analysis, maintenance, legal review, and physical inspections, and a recently announced aviation-focused agentic AI system developed with SOJI AI for unstructured technical records. Sourcing is relationship-driven, with approximately 70 percent of assets acquired bilaterally or through limited auction trades and fewer than 5 percent of reviewed aircraft selected for investors each year.

Airborne operates five offices (Dublin headquarters, Shannon, London, Tokyo, and New York) and monetizes through asset management fees on managed vehicles, lease management services including JOL servicing via Daiwa Airborne, and transaction-based remarketing, sale, and ABS advisory fees. Strategic shareholders include founding management, FEXCO, Natixis Investment Managers (minority stake since January 2018), and Daiwa Securities Group (10 percent voting interest from May 2026 with warrants to reach 20 percent).

Name

Airborne Capital

Legal name

Airborne Capital Limited

Website

https://airborne.capital

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Airborne Capital is a Dublin-based specialist aircraft asset manager managing over US$2 billion in aircraft assets for institutional investors, airlines, and Japanese clients through bespoke funds, JOL products, and ABS vehicles, leveraging proprietary AI-enhanced underwriting.

Ownership category

akta.pro rank

Product category

Aviation Asset Management

NAICS

Aircraft Manufacturing (336411), Other Nonscheduled Air Transportation (481219), Other Financial Investment Activities (5239)

SIC

Aircraft & Parts (3720), Investment Advice (6282), Finance Lessors (6172)

akta.pro primary industry

Business & General Aviation Aircraft Manufacturing (IMABAAAC)

akta.pro secondary industry

Helicopter Charter & Sightseeing (TLAFABAH)

Keywords

• Aviation asset management
• Aircraft leasing
• Japanese Operating Lease
• Aircraft investment funds
• Aviation securitization

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: Fees earned from managing aircraft assets and investment funds on behalf of institutional investors and partners. Manages over US$2 billion in aircraft assets.
2. Lease Management Services: Providing comprehensive support to clients through proposal of JOL (Japanese Operating Lease) products and management of leasing services for airlines and investors.
3. Remarketing and Sales Services: Aircraft remarketing and sales services including project management for P2F conversions, lease transitions, and divestment services.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Airborne Capital is a specialist aircraft asset manager that manages in excess of US$2 billion in aircraft assets for institutional investors, airlines, and leasing companies globally. The firm provides aircraft asset management services, bespoke aviation investment products across the risk-return spectrum, aircraft origination and structuring, remarketing and sale services, lease management, and Japanese Operating Lease (JOL) products via the Daiwa Airborne joint venture.

Product overview

Airborne Capital operates as a specialist aircraft asset manager offering a comprehensive suite of services centered on aircraft investments. The core offering is its Aircraft Asset Management platform, supplemented by proprietary analytical tools enhanced by AI. The company manages distinct investment products including MACH I (closed-ended Japanese investor fund), MACH OE (open-ended aircraft fund targeting JPY 150 billion), and ABS securitization products (Tailwind and MAST transactions). Strategic ventures include Daiwa Airborne joint venture for Japanese Operating Lease products and AltitudeOne Aviation. Services span aircraft origination, structuring, remarketing, lease management, and full lifecycle portfolio management for institutional investors.

Differentiator

Problem solved

Functional benefit

Brands

• MACH OE: Open-ended aircraft investment fund targeting approximately JPY 150 billion for Japanese institutional investors.
• MACH I

Products and services

• Aircraft Asset Management
• MACH OE Fund (Multi Aircraft Capital Holdings Open-Ended)
• MACH I Fund
• Daiwa Airborne (JOL Products)
• Aircraft Origination and Structuring
• Aircraft Remarketing and Sale
• Tailwind 2019-1 ABS Transaction
• AltitudeOne Aviation
• Aircraft Lease Management

Quantifiable outcome

• Over US$2 billion in aircraft assets under management
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, strategic, notable, flagship and major.

• Mercuria Investment Co., Ltd.coreStrategic or Co-development Partner · 15 January 2026Joint establishment and management of MACH OE open-ended aircraft investment fund targeting JPY 150 billion. First closing completed April 30, 2026 with Development Bank of Japan as anchor investor. Previously established MACH I fund targeting US$400 million for Japanese investors.
• SOJI AIstrategicTechnology or Integration · 15 December 2025Partnership to develop AI-enabled software solutions for aviation industry. SOJI AI builds aviation-focused agentic AI system for technical records analysis; Airborne provides investment of intellectual and financial capital to accelerate development of AI solutions for MROs, Airlines, Lessors and OEMs.
• MRO Japan Co., Ltd.notableStrategic or Co-development Partner · 16 September 2025Strategic partnership memorandum of understanding to develop comprehensive end-of-lease transition and MRO services for select clients in Japan and across parts of Asia. Airborne contributes project management and technical capabilities with AI technologies; MRO Japan provides MRO expertise and regional market access.
• Daiwa Securities Group Inc.flagshipStrategic or Co-development Partner · 22 November 2024Capital and business alliance in aircraft leasing sector. Daiwa acquired 10% voting interest in Airborne Capital with warrants to increase to 20%. Joint venture Daiwa Airborne Inc. provides JOL products to high-net-worth individuals and corporate clients. Expanded alliance includes participation in Airborne's open-ended aircraft fund MACH OE.
• Yamato Holdings Co., Ltd.notableStrategic or Co-development Partner · 24 November 2023Airborne acted as project manager assisting Yamato HD with A321 P2F conversion project, including aircraft sourcing and conversion management, culminating in successful delivery to Narita International Airport.
• Marathon Asset Management, L.P.majorStrategic or Co-development Partner · 13 December 2022Airborne served as advisor and servicer for MAST 2022-1 aircraft ABS transaction, a US$303.7 million transaction secured on a portfolio of 15 narrowbody aircraft. Second ABS transaction after Tailwind 2019-1.
• L1 Treasury / LetterOne GroupmajorStrategic or Co-development Partner · 24 September 2018Committed US$250 million to launch AltitudeOne Aviation, a venture investing in diversified portfolio of in-production narrowbody and widebody commercial aircraft leased to airlines globally. LetterOne manages net assets in excess of US$25bn.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• AerCap Holdings: The world's largest aircraft lessor with over $70B in aircraft assets under management and a portfolio of over 3,500 aircraft. While Airborne Capital operates at much smaller scale, AerCap is the dominant direct peer in commercial aircraft leasing and serves similar airline customers with comparable narrowbody/widebody lease products.
• SMBC Aviation Capital: Major global aircraft lessor and servicer with a portfolio of approximately $40B in aircraft assets, owned by Sumitomo Mitsui Financial Group. Multiple Airborne team members previously held senior roles at SMBC (Hari Raghavan, Konrad Blocher, Pierre McNamara, Masafumi Hayashi), making it both a direct peer and a key competitor for talent and deal flow.
• Avolon Aerospace Leasing: Top-tier global aircraft lessor with approximately $30B+ in aircraft assets serving airlines in over 60 countries. Subsidiary of Bohai Leasing, Avolon operates as a broad incumbent peer with overlapping narrowbody/widebody lease products and similar airline customer segments.
• BOC Aviation: Singapore-based global aircraft lessor with a fleet of over 700 aircraft and a customer base spanning 90+ countries. BOC Aviation is a broad incumbent peer with comparable fleet profile (single-aisle and twin-aisle), Asian market focus, and investment-grade funding access similar to Airborne's positioning.

Direct peers

• Goshawk Aviation: Specialist aircraft lessor acquired by SMBC Aviation Capital in 2024 for ~$6.5B. Goshawk is a particularly direct peer given the multiple Airborne senior team alumni (Anand Ramachandran, Eugene Lui, John O'Flynn, Konrad Blocher, Hammad Bin Shahid, Stephen Ronan) and similar mid-sized specialist lessor positioning.
• Aergo Capital: Dublin-based specialist aircraft lessor with similar scale to Airborne Capital, managing several billion in aircraft assets. Acquired by Mizuho Leasing in 2023. Aergo is a direct peer in size, geographic footprint (Dublin HQ), and mid-market lessor positioning, with Airborne team alumni (Stephen Ronan) having worked there.
• Air Lease Corporation: Los Angeles-based aircraft leasing company with a fleet of over 480 owned/managed aircraft. ALC is a direct peer in the aircraft leasing business model with similar customer profile (commercial airlines globally), although larger in scale and publicly traded.
• Jackson Square Aviation: San Francisco-based specialist aircraft lessor focused on new-technology narrowbody aircraft with a portfolio of over 130 aircraft. JSA is a direct peer in mid-sized specialist lessor positioning with comparable asset strategy focus on young, liquid aircraft types. Airborne team member Kazuki Yoshida began career at JSA.
• Avation PLC: Singapore-based specialist aircraft lessor listed on the London Stock Exchange with a fleet of over 30 aircraft. Avation is a direct peer as a smaller-scale specialist lessor serving similar commercial and government customers; Airborne team member Bruno Benveniste previously worked in sales and marketing at Avation.
• Nordic Aviation Capital: Copenhagen-based specialist regional aircraft lessor with a fleet of over 400 aircraft focused on turboprop and regional jet segments. NAC is a direct peer in mid-sized specialist lessor positioning, with Airborne team members (Bruno Benveniste, Donna Marie O'Neill, Ellen Reidy, Pierre McNamara) having previously held senior roles there.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/airborne-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Airborne Capital