Windward Air Capital

Specialises in commercial aviation investments,
with a focus on evolving trends in demographics,
infrastructure and aircraft technology
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Windward Air Capital is a specialist aviation investment firm.

Emerging and developing economies are driving the global demand for air travel. Passenger traffic has increased from ~4.6bn RPKs in 2009 to ~8.2bn RPKs in 2018. The air travel market is projected to be 2.5x larger in 20 years and the global commercial aircraft fleet will grow to accommodate, doubling in size to ~40,000 by 2038.

There is also demand for more fuel efficient and environmentally friendly aircraft. Windward is focused on investing in young current generation aircraft and the most technologically advance next generation equipment.

Aircraft are a durable, standardised product, flexible in deployment and limited in supply. Leasing them via medium- to long-term operating lease contracts provides for steady and stable cash flows.

The foundation of Windward’s approach is a conservative-led strategy focused on acquiring the most liquid aircraft in the global fleet.

Combining young liquid aircraft with strong airlines in developed markets and fast-growing airlines in emerging markets provides a strong base for consistent returns on attractive real asset investments.

Windward targets aircraft that are less than 8 years of age with 5+ years of remaining lease term.

The Airbus A320 and A321 ceo and neo families and the Boeing 737-800 and Max family aircraft make up the majority of our fleet. In addition, we target the most liquid “small” widebody aircraft with particular focus on the Boeing 787 and Airbus A330 family.

Over time, our portfolio will be spread ~50% Asia/Pacific, 20% Europe, 20% Americas and 10% RoW.

Windward’s initial portfolio comprises A320/21 family aircraft and a Boeing 787 aircraft with airlines in Asia, Europe and Mexico.

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