News
HNA’s Avolon to become largest global lessor?
July 1st 2016
"We are not yet the 800 pound gorilla, but we have aspirations [of] that," Avolon Holdings CEO, Domhnal Slattery told Aviation Week at an HNA Group event this week in Dublin. Read More »
Avolon now expects to be the third biggest aircraft lessor by 2025, following AerCap and GE Capital Aviation Services, but this could change quickly should it succeed in taking over CIT Aerospace.
"CIT is a 300-aircraft operation. It would be a transformative acquisition for Avolon," Slattery said, adding a decision will be made "over the summer." New York City-headquartered CIT has been considering a sale or an IPO. Century Tokyo Leasing Corp. has already expressed an interest in CIT.
Having said that, Australia’s Ansett Worldwide Aviation Services and California’s Aviation Capital Group are also seeking new owners.
Bohai Leasing – the leasing arm of China’s HNA Group conglomerate – acquired Avolon for $7.6 billion earlier this year. Avolon has since got access to $1.2 billion in additional capital. It plans for significant growth this year, including new aircraft orders, acquisition of in-service fleets and potential takeovers.
