August 18, 2014

Chinese company reportedly wants to buy aircraft-leasing company Avolon

China-based AVIC is interested in buying Avolon, a aircraft leasing company, as China works to grow its role in the global aviation industry.

One of China’s biggest aviation companies, the Aviation Industry Corp of China is in talks to buy Dublin-based aircraft leasing company Avolon, according to a report by the Financial Times.

The deal is a sign of how China is looking to grow its piece of the aviation market.

AVIC Capital, a subsidiary of AVIC, confirmed the talks, and said it had conducted initial due diligence, it told the Financial Times, although there was uncertainty that a deal could be completed.

Avolon filed with the US Securities and Exchange Commission in June for an initial public offering, but people with the group told the Financial Times it was also pursuing the option of a sale.

Avolon, formed in 2010, has 130 planes and about 100 more on order, the report said.

Reach Molly McMillin at 316-269-6708 or mmcmillin@wichitaeagle.com. Follow her on Twitter: @mmcmillin.

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