Aviation Capital Group Assets Reach $15.5 Billion as Orderbook Expands

Commercial aircraft asset manager Aviation Capital Group LLC has reported robust financial performance for the third quarter of 2026, growing its total asset base to $15.5 billion—a 13% expansion since the close of 2025. The Newport Beach-based lessor generated $1.0 billion in total revenue and $170 million in pre-tax net income over the first nine months of the year, underscoring strong commercial airline demand for modern narrowbody passenger aircraft.

The company's nine-month pre-tax net income represents a 36% increase compared to the corresponding period in 2025, after adjusting for prior-year insurance recoveries related to aircraft previously stranded in Russia.

Robust Financial Momentum and Cash Generation

Operating cash flows reached $546 million for the nine-month period ending September 30, 2026, marking a 9% increase over the previous year. The steady cash generation reflects high lease collection rates and sustained global airline utilization across ACG's core portfolio.

Commenting on the results, Thomas Baker, Chief Executive Officer and President of ACG, emphasized that the company's financial growth aligns with disciplined balance sheet management and active portfolio modernization. The lessor continues to maintain high liquidity reserves and broad access to unsecured debt capital, positioning it to finance capital commitments amid elevated industry lease rates.

Landmark Narrowbody Fleet Commitments

Over the course of 2026, ACG executed major direct manufacturer orders totaling 125 new-generation commercial passenger jets. The acquisitions include a landmark agreement for 75 Airbus A320neo Family aircraft finalized in October, representing the largest single aircraft purchase in the lessor's 37-year history, alongside an order for 50 Boeing 737 MAX jets placed in January.

With more than 200 aircraft currently on order with Airbus and Boeing, ACG has established a top-five position among global lessor orderbooks. The secured production positions provide guaranteed delivery streams extending well into the mid-2030s. At a time when commercial planemakers face prolonged delivery backlogs, holding early, confirmed delivery delivery slots gives lessors substantial pricing power and placement visibility with airline operators seeking fleet expansion or older aircraft replacement.

Portfolio Scale and Global Airline Reach

As of September 30, 2026, ACG's operating platform encompassed approximately 500 owned, managed, and committed commercial aircraft. The portfolio is leased to roughly 85 airline customers distributed across approximately 50 countries, mitigating geographic concentration risk while capturing traffic recovery across Europe, the Americas, and Asia-Pacific.

Demand for modern fuel-efficient single-aisle aircraft remains exceptionally resilient worldwide. Airline customers continue to prioritize CFM LEAP and Pratt & Whitney GTF-powered narrowbodies to manage operating costs, while ongoing supply chain bottlenecks among aerospace tier-one suppliers have driven secondary market lease rates and asset residual values higher.

Strategic Ownership Transition

ACG is also advancing a significant corporate ownership evolution. On September 2, 2026, direct parent company Tokyo Century Corporation entered into a definitive Sale and Purchase Agreement with Japanese trading conglomerate ITOCHU Corporation.

Under the agreement, Tokyo Century will transfer a 50% ownership stake in TC Skyward Aviation U.S., Inc.—the immediate holding company of ACG—to ITOCHU. Subject to standard closing conditions and required regulatory clearances, the transaction is scheduled to close in November 2026. The co-ownership structure will unite two of Japan's largest global industrial enterprises, enhancing ACG's equity base, credit standing, and commercial access to expanding airline finance markets worldwide.