Hong Kong Aviation completes acquisition of Allco Aviation

Hong Kong Aviation Company (HKAC) completed (07-Jan-2010) the acquisition of Allco Aviation's business and assets from the Allco Finance Group. The Allco Finance Group went into receivership in Nov-2008. HKAC now owns interests in and will manage all relevant aircraft within the former Allco aviation portfolio. Financial terms of the transaction have not been disclosed. The promoters of the HKAC business are led by HNA Group Co Ltd. [more]