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Voyager AIR targets London IPO

The aircraft leasing firm said its IPO would comprise a placing and offer for subscription of shares, the proceeds of which would then be used to fund the purchase of five initial assets

Airbus a330-300
The company's initial purchase targets include three Airbus A330-300 aircraft

Aircraft leasing group Voyager AIR Limited is seeking to float on the main board of the London Stock Exchange.

The group said its initial public offering (IPO) would comprise a placing and offer for subscription of shares, the proceeds of which would then be used to fund the purchase of five initial assets for the company’s portfolio.

These included three Boeing 777-300ERs leased to Philippine Airlines and two Airbus A330-300s leased to Chinese carrier Sichuan Airlines.

The total purchase price for the initial assets is expected to be around US$600mln, which Voyager said was a 9% discount to the average valuations of the aircraft.

Liz Barry, the company’s chairman, said the firm would seek to grow its leasing platform by acquiring, leasing, and selling aircraft to achieve target returns while working in partnership with Dublin-based aircraft leasing group Amedeo.

The price of the shares at IPO or the date of the float are not yet known, with Voyager saying it would publish its registration document once it was approved by the Financial Conduct Authority.

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