Dublin-based aircraft lessor Avolon has completed the purchase of a portfolio of 106 aircraft on lease and commitments for 10 new-technology aircraft from investment manager Castlelake in a deal worth almost €1.2 billion. The portfolio, valued at $5 billion at the end of March, will accelerate Avolon's earnings growth and building its fleet at attractive yields.
Acquisition from Castlelake includes a portfolio of 106 aircraft on lease and commitments for 10 new-technology aircraft
The portfolio’s total assets were valued at $5 billion at the end of March, and will “accelerate Avolon’s earnings growth, building its fleet at attractive yields”, the company said at the time. About two-thirds of the planes are narrow body, while 70 per cent are so-called new-generation aircraft and have a weighted age of 4.7 years with an average of 8.4 years remaining on their leases.
AIRCRAFT LEASING AVIATION INDUSTRY ACQUISITION INVESTMENTS Avolon
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