Avolon now core brand of world’s 4th largest aircraft leasing group

Avolon, the international aircraft leasing company, announced the completion of its merger agreement with Bohai Leasing (“Bohai”). As a wholly-owned subsidiary of Bohai, Avolon’s shares have ceased trading on the New York Stock Exchange. Avolon is now a wholly-owned, indirect subsidiary of Bohai Leasing, a global leader in transportation (container and aircraft) leasing. Bohai Leasing is the only listed leasing company on the Chinese A-Share stock market and is majority owned by HNA Group, a Fortune 500 company with global interests in a range of sectors including aviation, leasing, logistics, tourism and transportation. Avolon will be the core aircraft leasing brand for Bohai Leasing and its parent, HNA Group, and assumes management of the Hong Kong Aviation Capital (HKAC) business, another Bohai subsidiary. Avolon’s owned, managed and committed fleet, at December 31st, 2015, together with the HKAC fleet, comprises 420 aircraft with an average aircraft age of 3.2 years and a value of c. US$22bn serving 67 customers in 36 countries. Avolon’s pro-forma fleet includes direct orders from manufacturers for new technology aircraft, including 105 Airbus neo aircraft (A320 family and A330); 20 Boeing 737 MAX aircraft; and 6 Boeing 787-9 aircraft. Avolon, together with HNA Group and Bohai’s other aircraft leasing interests, comprises a total fleet of more than 500 aircraft – the world’s fourth largest aircraft leasing business by asset value. The company will remain headquartered in Dublin, with a strategic Asian regional head office in Hong Kong and offices in Dubai, Shanghai, Singapore and the United States. Avolon retains the same experienced management team since formation in 2010, all of whom remain with the integrated business which has a total employee base of 88 people.