Japanese Leasing Group Fuyo Invests in Bye's Planned Electric Aircraft
The size of Fuyo's investment in the U.S. company has not been revealed, but the deal will result in the Tokyo-based group holding a stake in Bye Aerospace.
Japan’s Fuyo General Lease is investing in electric aircraft developer Bye Aerospace. The terms of the transaction announced this week are unclear, with no confirmed amount for the investment, which is resulting in an unspecified “third-party allocation" of new shares in the Colorado-based company.
Tokyo-based Fuyo has a diverse leasing portfolio that already includes some aircraft, as well as ships, automobiles, construction machinery, industrial tools, and IT/office equipment. In its newly published medium-term management plan, the company says it intends to increase the number of aircraft it owns at a rate of 10 a year over the next five years from the current total of 19 to 70.
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