News
Chinese lessor acquires CIT Group leasing
October 7th 2016
International aircraft lessor, Avolon, a wholly owned subsidiary of China’s Bohai Capital Holding Co. Ltd, has signed an agreement to acquire the CIT Group’s aircraft leasing business. Read More » The purchase, subject to regulatory clearance, will make Avolon the world’s third largest aircraft leasing group with a portfolio of 910 aircraft, valued at US$43 billion. The transaction is expected to be finalised in the first quarter of next year.
“While this transaction is strategically compelling and will double the scale of Avolon, it is not the summit of our ambition,” said Avolon CEO, Domhnal Slattery. “Avolon has a strong brand, a best in class fleet, a proven business model and a long-term strategic shareholder committed to the sector. We look forward to continuing to drive the disciplined growth of the business in the years ahead.”
