Itochu to purchase half of Aviation Capital Group in $1.95 billion deal

Japanese trading house Itochu Corp will pay $1.95 billion for a 50% stake in Aviation Capital Group (ACG), one of the world’s largest aircraft leasing companies. The transaction, announced after an initial agreement on 3 August 2026, is subject to regulatory approval and finalisation later in August, with completion expected in November. Tokyo Century will retain the remaining 50%, creating joint ownership and management of ACG.

At the end of 2025 ACG managed a fleet of 446 aircraft – 278 owned outright, 33 managed and commitments for 135 more – with about 94% of the fleet consisting of narrow‑body Airbus A320neo and Boeing 737 MAX types and an average age of 5.4 years. The lessor serves 85 airlines across 50 countries, including United Airlines, Air France, WestJet and others. Itochu plans to use ACG as a platform to expand its aerospace business, increasing new‑aircraft leasing, purchases, sales and exploring related services such as aircraft maintenance, engine leasing and parts sales. Tokyo Century expects the partnership to help ACG move into the top five global lessors.