Avolon and Cinda Leasing sign Jade Aviation leasing JV agreement

Bohai Capital stated (21-Jun-2018) its Avolon Holdings subsidiary and Cinda Leasing signed a JV agreement to establish Jade Aviation. Avolon will invest USD17.2 million for a 20% stake in the JV and Cinda Financial Leasing will invest USD68.6 million for the remaining 80% stake. In addition to the equity investment, Cinda will advance Jade a USD280 million loan to fund aircraft that will be acquired from Avolon. Avolon will also act as servicer to Jade's portfolio. Jade owns a Boeing 737-800 aircraft (MSN 29947) leased to Hainan Airlines and operated by Lucky Air. [more - original PR - Chinese]