Avolon, the international aircraft leasing company, issued an update for the 2016 fourth quarter (‘Q4’) and full year. 2016 was a transformational year for Avolon which included the completion of its acquisition by Bohai Capital, its agreement to acquire the aircraft leasing business of CIT Group and the delivery of 74 aircraft. Avolon’s owned, managed and committed fleet grew 69% in 2016 to 435 aircraft by year-end. This fleet will effectively double again in 2017 on completion of the acquisition of the aircraft leasing business of CIT Group. Avolon announced a series of corporate transactions including:
Completion of US$7.6bn acquisition by Bohai Capital and delisting from NYSE, Integration of Hong Kong Aviation Capital (HKAC) into Avolon, Acquisition of US$2bn portfolio of 45 aircraft from GECAS, Increased secured and unsecured committed debt facilities by a total of over US$2.4bn and Agreement to acquire the CIT Group aircraft leasing business for US$10bn.
