A trust backed by General Electric (GE), Altitude Aircraft Leasing, is looking to revive its IPO plans and raise USD 500 to USD 750 in Singapore.
Company had earlier planned to issue an IPO in 2007 but withdrew it later due to the global slowdown. With its latest efforts, Altitude Aircraft Leasing is planning to become Asia’s first aircraft-leasing trust to list.
The IPO couldn’t have picked a better time as the demand for low cost aircraft carriers have witnessed a boom. The company is looking to list via a business trust in Singapore, which would mean that the company can pay distributions directly from operating cashflow rather than from accounting profit.