MUFG bets big on aircraft financing with $6bn acquisition

German aviation business expected to deliver higher returns than banking

20190301 MUFG graphics

Japanese megabank MUFG has set its sights on aircraft leasing opportunities.

YUMIKO OSHIMA, Nikkei staff writer

TOKYO -- Mitsubishi UFJ Financial Group said Friday it will purchase an aircraft financing business from Germany's second-biggest lender, DZ Bank, seeking to capitalize on growing demand for air travel in a deal estimated at around 700 billion yen ($6.26 billion).

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