Genesis Lease stated it is in discussions with another party concerning a possible M&A transaction. The company can give no assurances that a definitive agreement relating to such a transaction will be reached, to the terms of a transaction. Genesis also stated it does not intend to make further comment unless or until there is a transaction to announce. The company is reportedly the target of a bid by Dutch leasing firm, AerCap. [more] [more - Share Wrap]
Genesis Lease responds to unusual trading activity
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HNA's Avolon group to acquire CIT Commercial Air, creating world’s third largest aircraft lessor
HNA Group’s remarkable spending spree continues, with the announcement that its Avolon subsidiary will acquire CIT Commercial Air, the aircraft leasing arm of CIT Group.
The USD10 billion deal will create the world’s third largest lessor - and they may be more to come yet.
Avolon itself was only recently acquired by HNA Group, with the USD2.7 billion purchase agreement being finalised in Jan-2016, via Bohai Capital Holdings.
Avolon is now the core aircraft leasing brand for the HNA Group. Including assets from Hong Kong Aviation Capital, Bohai Capital and several smaller HNA Group leasing firms, Avolon has a fleet of nearly 250 aircraft and almost 200 more on order.
Airport pairs: Western Europe-US shows the value of open skies as routes and new entry proliferate
For Western Europe there is no bigger long haul market than North America. In terms of the number of airport pairs between the countries of Western Europe and long haul destination countries, connectivity to the United States dominates. There are more direct routes between Western Europe and the US than there are between Western Europe and the whole of Asia Pacific.
This report presents high level data on the numbers of airport pairs between each Western European country and the US and how these number have changed. EU-US liberalisation in 2008 has stimulated growth in the number of direct connections, although the global economic downturn impeded this for a while. However, the additional routes have not been spread evenly across Western European countries.
Since 2010, additional route numbers from Western Europe to the US have been greatest from the largest markets – the UK and the US – and from the smaller countries, particularly Ireland, Iceland and Norway. Countries in between, including France, Italy, Spain and the Netherlands, have hardly added any new US routes at all.