Global Jet Capital raises $659m in latest business aircraft securitisation | Corporate Jet Investor | CJI news

Global Jet Capital has closed its ninth asset-backed securities transaction, BJETS 2026-1, raising approximately $659 million backed by a portfolio of business aircraft loans and leases. The deal was structured in three tranches — a $561.39 million Class A, a $56.95 million Class B, and a $40.68 million Class C — with ratings from S&P Global Ratings and Kroll Bond Rating Agency ranging from A/A on the senior tranche down to BB/BB on the subordinate piece. Morgan Stanley served as lead structuring agent and bookrunner, with Deutsche Bank Securities, BofA Securities, Citigroup Global Markets, KKR Capital Markets, and TCG Capital Markets participating as joint structuring agents. The transaction attracted 41 investors in total, with 12 participating in the BJETS program for the first time, a detail that signals expanding institutional appetite for business aviation as a distinct asset class.

The underlying collateral — 28 leases and loans spanning 20 industries and 16 different aircraft models — reflects the breadth of corporate demand for mid- to large-cabin business jets. That diversification across industry sectors is a deliberate structural feature designed to reduce concentration risk in the portfolio, making the securities more attractive to a wider range of fixed-income buyers. With this closing, Global Jet Capital's cumulative securitized asset base reaches approximately $6.7 billion and total bonds issued approximately $5.4 billion since the program's inception, establishing BJETS as one of the more mature and consistently executed business aviation ABS programs in the market. The repeat issuance cadence and rising investor count suggest that the underlying loan and lease performance has remained sufficiently stable to sustain institutional confidence through multiple market cycles.

For flight department operators, charter companies, and fractional program managers, transactions like BJETS 2026-1 have direct practical implications. Asset-backed securities programs are a primary mechanism through which lessors and lenders recycle capital to fund new aircraft financing activity. When these deals close successfully — and attract new investors — it indicates that capital remains available and competitively priced for operators seeking to acquire or refinance mid- and large-cabin jets. A constrained or poorly received ABS deal, by contrast, typically tightens lending standards and increases costs across the financing ecosystem. The participation of twelve first-time BJETS investors is a particularly meaningful signal that institutional capital is not retreating from business aviation exposure despite broader macroeconomic uncertainty.

The transaction also reflects a structural maturation of the business aviation finance market that has accelerated over the past decade. Business jet ABS was once a niche and occasionally skeptical corner of structured finance, but repeated issuances by Global Jet Capital and others have helped normalize the asset class, establish performance track records, and build a stable investor base. The involvement of major bulge-bracket banks — Morgan Stanley, Deutsche Bank, Bank of America, Citigroup — alongside institutional specialists like KKR Capital Markets underscores that business aviation lending has moved well beyond niche status. For operators and fleet planners, the continued health of this financing infrastructure supports long-term fleet planning with reasonable confidence that bank and lessor financing will remain accessible for modern mid- to large-cabin aircraft acquisition across Part 91, Part 91K, and Part 135 operational contexts.