Avolon is a leading global aircraft lessor, providing aircraft leasing and lease management services to airlines and aircraft investors worldwide. Avolon is a wholly-owned subsidiary of Bohai Leasing, following the completion of definitive merger agreement in Jan-2016. According to the conditions of the merger, Avolon became the core aircraft leasing brand for Bohai Leasing and its parent, HNA Group, and assumed management of the Hong Kong Aviation Capital (HKAC) business, another Bohai subsidiary. Avolon, together with HNA Group and Bohai’s other aircraft leasing interests, comprises a total fleet of more than 500 aircraft, making it the world’s fourth largest aircraft leasing business by asset value. Headquartered in Dublin, Avolon also has offices in Stamford CT, Dubai, Singapore, Hong Kong and Shanghai, Avolon is a global business with a deep understanding of the markets in which it operates. Orix Corporation announced Orix Aviation acquired 30% of the outstanding shares of Avolon on 06-Nov-2018. An indirect subsidiary of Bohai Capital Holding Co. Ltd. owns 70% of the leasing company.
In Oct-2016, CIT Group entered a definitive agreement to sell CIT Commercial Air, its commercial aircraft leasing business, to Avolon Holdings Limited. According to the agreement, Avolon will acquire the CIT business unit including its operations, forward order commitments, and certain assets of USD11.1 billion and liabilities of USD1.7 billion. The transaction is expected to close by the end of 1Q2017, subject to regulatory approvals and customary closing conditions. The acquisition is expected to result in a combined entity with a fleet of 910 aircraft valued at over USD43 billion.
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