AviationNews – Japanese trading house ITOCHU Corporation has finalized a strategic $1.95 billion investment to acquire a 50 percent stake in U.S.-based Aviation Capital Group (ACG), establishing joint management of the lessor alongside Tokyo Century Corporation. This landmark transaction significantly expands ITOCHU’s global reach across commercial aircraft leasing and aftermarket service sectors.
The agreement, announced on August 3, 2026, involves ITOCHU acquiring half of TC Skyward Aviation U.S., Inc., the holding company through which Tokyo Century controls ACG. To reinforce the lessor’s capital structure, ITOCHU is also subscribing to 10 billion yen (approximately $63.8 million) in bond-type class shares issued by Tokyo Century. Headquartered in Newport Beach, California, ACG ranks as the world’s ninth-largest aircraft lessor, operating a fleet of modern jetliners leased to roughly 90 airlines across 50 countries.
The joint management structure integrates ACG’s leasing platform into ITOCHU’s broader aircraft value chain, which encompasses aircraft trading, engine sales, maintenance, repair, and overhaul (MRO) services, and asset management. Combining ACG’s widebody and narrowbody portfolio with ITOCHU’s existing aviation holdings—including Killick Aerospace and Sirius Aviation Capital—allows both firms to capture revenue across the entire lifecycle of an aircraft, from initial delivery to secondary leasing and parts harvesting.
“Participating in the co-management of ACG positions this platform as the cornerstone of our aerospace growth strategy,” stated an ITOCHU Corporation spokesperson. “Partnering with Tokyo Century enables us to combine our international network with a top-tier lessor, creating powerful operational synergies across aircraft trading and life-cycle asset management.”
Looking ahead, the multi-billion-dollar alliance prepares both companies to capitalize on sustained global air travel growth and ongoing commercial aircraft delivery constraints. The partnership will focus on scaling the combined fleet into a top five global leasing entity while generating stable, long-term cash flows outside the volatile commodities market.
This $1.95 billion acquisition strengthens ITOCHU’s market position and reshapes the competitive landscape of global aviation finance. By pairing full-service commercial jet leasing with comprehensive lifecycle support, the joint venture establishes a resilient foundation for long-term international expansion.
