Avolon announces a US$300 million equity capital commitment from GIC, a leading sovereign wealth fund, subject to customary regulatory approval. Avolon has now secured a total of US$1.4 billion in equity capital from GIC and leading private equity firms, Cinven, CVC Capital Partners and Oak Hill Capital Partners. The equity commitment from GIC adds geographic diversity to Avolon’s capital base and enhances its ownership structure. GIC joins leading private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners as equity investors in Avolon with each bringing significant experience and complementary strengths to the Avolon business. Avolon’s committed fleet now stands at 88 aircraft with 26 customers in 18 countries. Avolon’s fleet is one of the youngest lessor fleet with an average aircraft age of 1.4 years. The proceeds of this capital raising will be used to accelerate Avolon’s expansion; and, to fund the continued growth of its aircraft fleet. Avolon’s objective is to reach a fleet size of 150 aircraft, valued at c. US$6 billion, by 2014.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada