Avolon Announces Sale of 49 Regional Jets to Falko
DUBLIN--(BUSINESS WIRE)--Dec 20, 2018--Avolon, the international aircraft leasing company has announced today that it has contracted to sell a portfolio of 49 regional jet aircraft to Falko. The aircraft are currently on lease to nine airlines around the world and the transaction is expected to close in early 2019.
John Higgins, Avolon President and Chief Commercial Officer, commented; “We are delighted to extend our already close and long-standing business relationship with Falko, who have clearly demonstrated their ability to transact in scale. The business the Falko team have built over several years is truly impressive.”
Mark Hughes, Chief Commercial Officer, Falko Regional Aircraft Limited, commented; “We are delighted to have finalised another deal with Avolon. This acquisition is a major step forward in the development of Falko and will expand our portfolio to over 120 regional jets and turboprops. Falko is now one of the world’s foremost aircraft operating lease companies focused on the regional aircraft sector and we believe this deal is reflective of our market leading position.”
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Capital Holding Co. Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415), and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation, which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 September 2018, of 890 aircraft.
Website: www.avolon.aero Twitter:@avolon_aero
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PUB: 12/20/2018 05:16 AM/DISC: 12/20/2018 07:00 AM